Morning Report Mar 29, 2024


Buy: NASDAQ SYDNEY AXJO NYA AMEX
Weak sell: SSEC
Watch: SINGAPO

NASDAQ (Price Mar 28, 2024: 16379)
Buy


NASDAQ 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 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

Sydney (Price Mar 28, 2024: 8153.70)
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

S&P 200 (Price Mar 28, 2024: 7896.90)
Buy


S&P 200 is in 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 7360 points. The index is assessed as technically positive for the medium long term.
Extended analysis

NYSE Composite (Price Mar 28, 2024: 18313)
Buy


NYSE Composite has broken up through the ceiling of the rising trend channel in the medium long term, which signals an even stronger rising rate. The positive development, however, may give rise to short term corrections down from today's level. 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 15700 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 NYSE Composite. 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

AMEX Composite (Price Mar 28, 2024: 4873.06)
Buy


AMEX Composite has broken up from an approximate horizontal trend channel in the medium long term after investors have paid ever more. A positive signal has been triggered and further increase for the index is indicated. The index has also broken a rectangle formation. A decisive break of the resistance at 4862 will signal a further rise to 5822 or more. 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 4680 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 AMEX Composite. 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 28, 2024: 3041.17)
Weak sell


Shanghai Composite has broken the ceiling of the falling trend in the medium long term, which indicates a slower initial falling rate. 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 slightly negative for the medium long term.
Extended analysis

Singapore - Straits Times (Price Mar 28, 2024: 3224.01)
Watch


Investors have accepted lower prices over time to get out of Singapore - Straits Times and the index is 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 given a positive signal from the inverse head and shoulders formation by a break up through the resistance at 3208. Further rise to 3403 or more is signaled. The index is approacing resistance at 3240 points, which may give a negative reaction. However, a break upwards through 3240 points will be 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 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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