Morning Report Mar 22, 2024

NASDAQ (Price Mar 21, 2024: 16402)

Buy

NASDAQ shows strong development within a rising trend channel in the medium long term. Rising trends indicate that the market experiences positive development and that buy interest among investors is increasing. 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. The index is assessed as technically positive for the medium long term.
Extended analysis

Toronto (Price Mar 21, 2024: 22087)

Buy

Toronto has broken the rising trend up in the medium long term, which indicates an even stronger rising rate. 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 20640 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 Toronto. 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 Mar 21, 2024: 40888)

Buy

Nikkei 225 has broken the rising trend up in the medium long term. This signals an even stronger rate of growth, but the positive development may result in corrections down in the short term. 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 33600 points. The index is assessed as technically positive for the medium long term.
Extended analysis

Euro Stoxx 50 (Price Mar 21, 2024: 5052.31)

Buy

Euro Stoxx 50 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 4400 points. 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

NYSE Composite (Price Mar 21, 2024: 18214)

Buy

NYSE Composite is in a rising trend channel in the medium long term. Rising trends indicate that the market experiences positive development and that buy interest among investors is increasing. 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 16100 points. 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

Wellington (Price Mar 21, 2024: 11979)

Buy

Wellington shows strong development within a rising trend channel in the medium long term. Rising trends indicate that the market experiences positive development and that buy interest among investors is increasing. The index has broken a resistance level and given a positive signal for the long-term trading range. The index is between support at points 11930 and resistance at points 12080. A definitive break through of one of these levels predicts the new direction. 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 RSI curve shows a rising trend, which supports the positive trend. The index is overall assessed as technically positive for the medium long term.
Extended analysis

Nifty 50 (Price Mar 21, 2024: 22012)

Weak buy

Nifty 50 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 support at points 19350 and resistance at points 22500. The index is assessed as technically slightly positive for the medium long term.
Extended analysis