Morning Report Apr 16, 2024

NASDAQ (Price Apr 15, 2024: 15885)

Weak sell

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 broken a support level in the short term and given a negative signal for the short term trading range. The index is approacing resistance at 16400 points, which may give a negative reaction. However, a break upwards through 16400 points will be a positive signal. RSI diverges negatively against the price, which indicates danger of a reaction downwards. The RSI curve shows a falling trend, which could be an early signal of the start of a falling trend for the price as well. The index is overall assessed as technically slightly negative for the medium long term.
Extended analysis

Nifty 50 (Price Apr 15, 2024: 22273)

Buy

Nifty 50 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 20000 points. 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 positive for the medium long term.
Extended analysis

Shanghai Composite (Price Apr 15, 2024: 3007.07)

Sell

Shanghai Composite is in a falling trend channel in the medium long term. This signals increasing pessimism among investors and indicates further decline for Shanghai Composite. There is no support in the price chart and further decline is indicated. In case of a positive reaction, the index has resistance at 3070 points. The index is assessed as technically negative for the medium long term.
Extended analysis

Hong Kong - Hang Seng (Price Apr 15, 2024: 16246)

Sell

Hong Kong - Hang Seng 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. The index has broken a double top formation. A decisive break of the support at 16393 will signal a fall to 15702 or less. The index has support at points 15000 and resistance at points 17000. The index is overall assessed as technically negative for the medium long term.
Extended analysis

Singapore - Straits Times (Price Apr 15, 2024: 3140.66)

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 is moving within a rectangle formation between support at 3118 and resistance at 3248. A decisive break through one of these levels indicates the new direction for the index. The index is testing support at points 3130. This could give a positive reaction, but a downward breakthrough of points 3130 means a negative signal. The index is overall assessed as technically neutral for the medium long term.
Extended analysis

NYSE Composite (Price Apr 15, 2024: 17507)

Watch

NYSE Composite has broken the floor of the rising trend channel in the medium long term, which indicates a weaker initial rising rate. The index has broken a support level in the short term and given a negative signal for the short term trading range. The index has support at points 16150 and resistance at points 18300. The RSI curve shows a falling trend, which could be an early signal of the start of a falling trend for the price as well. The index is overall assessed as technically neutral for the medium long term.
Extended analysis

KOSPI (Price Apr 15, 2024: 2609.63)

Watch

KOSPI 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 broken a support level in the short term and given a negative signal for the short term trading range. The index has support at points 2485 and resistance at points 2670. The index is overall assessed as technically neutral for the medium long term.
Extended analysis

Nikkei 225 (Price Apr 15, 2024: 38471)

Watch

Nikkei 225 has broken the floor of the rising trend channel in the medium long term, which indicates a weaker initial rising rate. The index has broken a support level in the short term and given a negative signal for the short term trading range. The index has support at points 33600 and resistance at points 40900. The index is overall assessed as technically neutral for the medium long term.
Extended analysis