Morning Report Apr 17, 2025

NASDAQ (Price Apr 16, 2025: 16307)

Weak buy

NASDAQ has broken through the floor of a rising trend channel in the medium long term. This indicates a slower rising rate at first, or the start of a more horizontal development. The index has received a negative signal from the moving average indicator, thus signaling a continued fall. The index is testing support at points 16300. This could give a positive reaction, but a downward breakthrough of points 16300 means a negative signal. RSI diverges positively against the price, which indicates a possibility for a reaction up. The index is overall assessed as technically slightly positive for the medium long term.
Extended analysis

Hong Kong - Hang Seng (Price Apr 16, 2025: 21329)

Buy

Investors have paid higher prices over time to buy Hong Kong - Hang Seng 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 support at points 19600 and resistance at points 23000. The short term momentum of the index is strongly negative, with RSI below 30. This indicates increasing pessimism among investors and further decline for Hong Kong - Hang Seng. However, particularly in big stocks, low RSI may be a sign that the stock is oversold and that there is a chance for a reaction upwards. The index is overall assessed as technically positive for the medium long term.
Extended analysis

Wellington (Price Apr 16, 2025: 12119)

Buy

Wellington has broken the floor of the rising trend channel in the medium long term, which indicates a weaker initial rising rate. The index has marginally broken up through resistance at points 12100. An established break predicts a further rise. The index is assessed as technically positive for the medium long term.
Extended analysis

S&P 200 (Price Apr 16, 2025: 7819.10)

Sell

S&P 200 has broken the floor of the rising trend channel in the medium long term, which indicates a weaker initial rising rate. The index has met the objective at 7663 after the break of the double top formation. The price has now risen again, but the formation indicates a further fall. There is no support in the price chart and further decline is indicated. In case of a positive reaction, the index has resistance at 8060 points. The index is overall assessed as technically negative for the medium long term.
Extended analysis

NYSE Composite (Price Apr 16, 2025: 18246)

Sell

NYSE Composite has broken through the floor of a rising trend channel in the medium long term. This indicates a slower rising rate at first, or the start of a more horizontal development. The index has met the objective at 17737 after the break of the double top formation. The price has now risen again, but the formation indicates a further fall. The index has marginally broken down through support at points 18300. An established break predicts a further decline. Volume has previously been low at price tops and high at price bottoms. This weakens the index. The index is overall assessed as technically negative for the medium long term.
Extended analysis

Shanghai Composite (Price Apr 16, 2025: 3280.34)

Watch

Shanghai Composite is within an approximate horizontal trend channel in the medium long term, which indicates further development in the same direction. The index is moving within a rectangle formation between support at 3085 and resistance at 3417. A decisive break through one of these levels indicates the new direction for the index. The index has support at points 3170 and resistance at points 3470. The RSI curve shows a falling trend, which is an early signal of a possible trend reversal downwards for the price as well. The index is overall assessed as technically neutral for the medium long term.
Extended analysis