Morning Report Mar 21, 2024


Buy: NASDAQ DAX STOXX
Weak buy: SSEC
Weak sell: HASE
Watch: SINGAPO

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

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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