Investors have paid higher prices over time to buy NASDAQ and the index 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. 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
Toronto is in 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 20630 points. The index is assessed as technically positive for the medium long term.
Extended analysis
NYSE Composite 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 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 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
Hong Kong - Hang Seng has broken through the ceiling of a falling trend channel in the medium long term. This indicates a slower falling rate initially, or the start of a more horizontal development. 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 is testing support at points 19000. This could give a positive reaction, but a downward breakthrough of points 19000 means a negative signal. 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 slightly positive for the medium long term.
Extended analysis
Singapore - Straits Times is within an approximate horizontal trend channel in the medium long term, which indicates further development in the same direction. The index has given a positive signal from the inverse head and shoulders formation by a break up through the resistance at 3208. Further rise to 3403 or more is signaled. The index is testing resistance at points 3320. This could give a negative reaction, but an upward breakthrough of points 3320 means a positive signal. 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 RSI curve shows a rising trend, which is an early signal of a possible trend reversal upwards for the price as well. The index is overall assessed as technically slightly positive for the medium long term.
Extended analysis
Sydney is in a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. The price has risen strongly since the positive signal from the double bottom formation at the break through resistance at 7938. The objective at 8052 is now met, but the formation still gives a signal in the same direction. The index is testing resistance at points 8150. This could give a negative reaction, but an upward breakthrough of points 8150 means a positive signal. Volume has previously been low at price tops and high at price bottoms. This weakens the rising trend and could be an early signal of a coming trend break. The index is overall assessed as technically neutral for the medium long term.
Extended analysis
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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.