Morning Report May 16, 2024


Buy: NASDAQ HASE STOXX NYA NIKKEI
Weak sell: SSEC

NASDAQ (Price May 15, 2024: 16742)
Buy


NASDAQ is in a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. The index has broken up through resistance at points 16400. This predicts a further rise. The index is assessed as technically positive for the medium long term.
Extended analysis

Hong Kong - Hang Seng (Price May 15, 2024: 19339)
Buy


Hong Kong - Hang Seng has broken the ceiling of the falling trend in the medium long term, which indicates a slower initial falling rate. The price has risen strongly since the positive signal from the inverse head and shoulders formation at the break through resistance at 16738. The objective at 19064 is now met, but the formation still gives a signal in the same direction. The index has broken up through resistance at points 19000. This predicts a further rise. In case of negative reactions, there will now be support at points 19000. 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 Hong Kong - Hang Seng. 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 May 15, 2024: 5100.90)
Buy


Euro Stoxx 50 is in a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. The index has marginally broken up through resistance at points 5080. An established break predicts a further rise. The index is assessed as technically positive for the medium long term.
Extended analysis

NYSE Composite (Price May 15, 2024: 18378)
Buy


NYSE Composite shows strong development within a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. The index has marginally broken up through resistance at points 18300. An established break predicts a further rise. Volume tops and volume bottoms correspond badly with tops and bottoms in the price. This weakens the rising trend and could be an early signal of a coming trend break. RSI is above 70 after a good price increase the past weeks. The index has strong positive momentum and further increase is indicated. 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

Nikkei 225 (Price May 15, 2024: 38920)
Buy


Nikkei 225 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. The price has also broken a resistance level in the short term and given a positive signal for the short-term trading range. The index has support at points 37200 and resistance at points 40900. The index is overall assessed as technically positive for the medium long term.
Extended analysis

Shanghai Composite (Price May 15, 2024: 3122.40)
Weak sell


Shanghai Composite has broken the ceiling of the falling trend in the medium long term, which indicates a slower initial falling rate. The index is between support at points 3070 and resistance at points 3150. A definitive break through of one of these levels predicts the new direction. The RSI curve shows a rising trend, which could be an early signal of the start of a rising trend for the price as well. The index is overall assessed as technically slightly negative for the medium long term.
Extended analysis

The report consists of daily evaluations by Investtech´s automated analysis system. The selection is mainly based on new medium term technical signals from the last closing price.

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    Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer. The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.


    Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer. The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.

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