Morning Report Mar 21, 2024

NASDAQ (Price Mar 20, 2024: 16369)

Buy

NASDAQ is in a rising trend channel in the medium long term. This shows that investors over time have bought the index at higher prices and indicates good development for the market. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the index has support at approximately 14400 points. RSI diverges negatively against the price, which indicates danger of a reaction downwards. The index is overall assessed as technically positive for the medium long term.
Extended analysis

Frankfurt - DAX (Price Mar 20, 2024: 18015)

Buy

Frankfurt - DAX has broken up from an approximate horizontal trend channel in the medium long term. This signals a continued strong development, and the index now meets support on possible reactions down towards the ceiling of the trend channel. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the index has support at approximately 16400 points. Volume tops and volume bottoms correspond well with tops and bottoms in the price. This strengthens the trend break. RSI above 70 shows that the index has strong positive momentum in the short term. Investors have steadily paid more to buy the index, which indicates increasing optimism and that the price will continue to rise. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The index is overall assessed as technically positive for the medium long term.
Extended analysis

Euro Stoxx 50 (Price Mar 20, 2024: 5000.31)

Buy

Euro Stoxx 50 shows strong development within a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the index has support at approximately 4400 points. The short term momentum of the index is strongly positive, with RSI above 70. This indicates increasing optimism among investors and further price increase for Euro Stoxx 50. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The index is overall assessed as technically positive for the medium long term.
Extended analysis

Shanghai Composite (Price Mar 20, 2024: 3077.11)

Weak buy

Shanghai Composite has broken the falling trend channel in the medium long term and reacted strongly up. For the time being, it is difficult to say anything about the future trend direction. The index has marginally broken up through resistance at points 3070. An established break predicts a further rise. The index is assessed as technically slightly positive for the medium long term.
Extended analysis

Hong Kong - Hang Seng (Price Mar 20, 2024: 16863)

Weak sell

Hong Kong - Hang Seng is in a falling trend channel in the medium long term. This shows that investors over time have sold at lower prices to get out of the index, and indicates negative development for the market. The index has given a positive signal from the inverse head and shoulders formation by a break up through the resistance at 16738. Further rise to 19064 or more is signaled. The index is testing resistance at points 17000. This could give a negative reaction, but an upward breakthrough of points 17000 means a positive signal. The index is overall assessed as technically slightly negative for the medium long term.
Extended analysis

Singapore - Straits Times (Price Mar 20, 2024: 3224.86)

Watch

Singapore - Straits Times shows weak development in a falling trend channel in the medium long term. This signals increasing pessimism among investors and indicates further decline for Singapore - Straits Times. The index has broken an inverse head and shoulders formation. A decisive break of the neckline at approximately 3209 will signal a further rise to 3406 or more. The index is testing resistance at points 3240. This could give a negative reaction, but an upward breakthrough of points 3240 means a positive signal. The index is overall assessed as technically neutral for the medium long term.
Extended analysis