Global stocks: All-time highs and lows

Published September 26, 2018

Japanese index Nikkei 225 is at 25-year high as it stood over 24000 points today at 3.15 PM local time. Similar is the case with the Oslo Stock Exchange, OSEBX and the Dow Jones Industrial Average as they hold their grip tight on the riding horse. The point is that many world indices are at or closer to their multi-year highs. However, some stocks follow the market and some go against it. We go a little diverse country-wise and sector-wise as we go through international stocks this week.

KKR & Co. L.P. (KKR.US) Close: 28.12

Investors over time have bought KKR & Co.L.P. shares steadily at higher prices and the stock is in a rising trend channel in the longer term chart since 2016. This indicates that investors have faith in the company’s future development and are ready to shell out more to be invested in the stock. Thus, continuation of the uptrend is indicated.
KKR har marginally broken up through the resistance at 27.90 dollars and is trading very close to its all-time high. Hence, there is little resistance for the stock, while there is support around 26.70-25 dollars in the shorter term chart. Rising prices are supported by increasing volume, which is a sign of strength.
Investtech's recommendation (one to six months): Positive

Equinor ASA (EQNR.OL) Close: 234.40

The largest Norwegian company by market capitalization, Equinor, formerly Statoil, shows strong development within a rising trend channel in the medium term. This indicates increasing optimism among investors and indicates continued rise.
The stock broke through the resistance in a rectangle formation earlier this week and closed on Tuesday at its highest level ever. The objective at 230 kroner is now met, but the formation still suggests trend continuation in the same direction. In case of any downward reaction there is support around 218 kroner. Positive volume balance indicates that buyers are aggressive while sellers are passive. The RSI curve shows a rising trend, which supports the positive trend. The stock is overall assessed as technically positive for the medium term.
Investtech's recommendation (one to six months): Positive

General Electric Compa (GE.US) Close: 11.27

General Electric Company is in a falling trend channel in the medium term. This shows that investors over time have sold at lower prices to get out of the stock. GE share prices have fallen over 65 percent on the closing basis. It is currently trading at its lowest in nine years and shows no signs of hope.
Earlier in August, the GE stock broke its support around 13 dollars, which eventually should be a resistance level in case of a price reaction. The fall in price is accompanied by high volume which weakens the stock even more. RSI is below 30 after the falling prices of the past weeks. Short term momentum is negative and further decline is indicated.
Investtech's recommendation (one to six months): Negative

Note: These instruments are traded in currency based on the exchange or country they are listed on.

The analyses are based on closing price as per September 25, 2018.

Skrevet av

Kiran R. Shroff
Analytiker
i Investtech

"Investtech analyserer psykologien i markedet og gir deg konkrete tradingforslag hver dag."

Espen Grønstad
Partner & Senior Advisor - Investtech
 


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Investeringsanbefalingen(e) er utarbeidet av Investtech.com AS ("Investtech"). Investtech garanterer ikke fullstendigheten eller riktigheten av analysen. Eventuell eksponering i henhold til rådene / signalene som fremkommer i analysene står fullt og helt for investors regning og risiko. Investtech er ikke ansvarlig for noe tap, verken direkte eller indirekte, som oppstår som en følge av bruk av Investtechs analyser. Opplysninger om eventuelle interessekonflikter vil alltid fremgå av investeringsanbefalingen. Ytterligere informasjon om Investtechs analyser finnes på informasjonssiden.

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