Morning Report Apr 11, 2024

NASDAQ (Price Apr 10, 2024: 16170)

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NASDAQ has broken the floor of the rising trend channel in the medium long term, which indicates a weaker initial rising rate. The index is testing resistance at points 16400. This could give a negative reaction, but an upward breakthrough of points 16400 means a positive signal. RSI diverges negatively against the price, which indicates danger of a reaction downwards. The index is overall assessed as technically neutral for the medium long term.
Extended analysis

Toronto (Price Apr 10, 2024: 22199)

Buy

Toronto 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 20660 points. The index is assessed as technically positive for the medium long term.
Extended analysis

Sydney (Price Apr 10, 2024: 8074.10)

Buy

Sydney 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. 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 7580 points. The index is assessed as technically positive for the medium long term.
Extended analysis

Wellington (Price Apr 10, 2024: 11934)

Buy

Wellington 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 is testing support at points 11930. This could give a positive reaction, but a downward breakthrough of points 11930 means a negative signal. Volume has previously been high at price tops and low at price bottoms. This weakens the trend break. The index is overall assessed as technically positive for the medium long term.
Extended analysis

Euronext PSI20 (Price Apr 10, 2024: 6279.78)

Buy

Euronext PSI20 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. The price has reacted back after the break of the rectangle formation. There is support around 6222, which now indicates good buying opportunities. An established break through this support will neutralize the positive signal. However, the index has received a negative signal from the moving average indicator, thus signaling a continued fall. The index has broken up through resistance at points 6230. This predicts a further rise. In case of negative reactions, there will now be support at points 6230. The index is overall assessed as technically positive for the medium long term.
Extended analysis

Singapore - Straits Times (Price Apr 10, 2024: 3225.26)

Weak buy

Singapore - Straits Times is in a falling trend channel in the medium long term. Falling trends indicate that the market experiences negative development and falling buy interest among investors. It also gave positive signal from the inverse head and shoulders formation at the break up through the resistance at 3208. Further rise to 3403 or more is signaled. The index has received a positive signal from the moving average indicator, thus signaling a continued rise. 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 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

Shanghai Composite (Price Apr 10, 2024: 3034.25)

Sell

Shanghai Composite 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 index is approacing resistance at 3070 points, which may give a negative reaction. However, a break upwards through 3070 points will be a positive signal. The index is assessed as technically negative for the medium long term.
Extended analysis

NYSE Composite (Price Apr 10, 2024: 17947)

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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 is approacing resistance at 18300 points, which may give a negative reaction. However, a break upwards through 18300 points will be a positive signal. The index is assessed as technically neutral for the medium long term.
Extended analysis