TAGS: Market analysis South Africa
News in Brief
Bloomberg:
- BofA sees bear rally fizzling out even as equity inflows surge
- Goldman says China, South Korea stocks to outperform next year
- China stocks slide as Covid flareups dent optimism
MarketWatch:
- The World Cup will kick off amid Elon Musk’s Twitter chaos, and nobody knows what happens next
- The latest rally in stocks may be almost over, Bank of America warns
- The crypto world keeps melting down as the FTX scandal unfolds
- Disney shocker: Robert Iger to return as CEO, Bob Chapek ousted
- Elon Musk restores Trump’s Twitter account after online poll
yahoo! finance:
- Capitec ‘hit squad’ scored millions – and is getting away with it
- Openserve and Octotel launch double fibre speed specials
Google Finance:
- Stocks end Friday with modest gains and weekly losses
- Musk summons Twitter engineers to meetings amid chaos
A lot of contracts closed on Friday in the US, and we will have to wait to see what the next move will be as the US indexes showed hesitation.
Global Indexes
S&P 500
The S&P 500 closed with an uncertain doji on its EMA8 line on Friday. Today’s move will give new direction.
NASDAQ
The NASDAQ also closed uncertain with 0% gain.
DAX
The DAX is still moving positive after a small J-curve.
HANG SENG
The HANG SENG made a breakaway gap downwards with the latest covid flareups.
NYSE & NASDAQ Stocks
Cisco Systems Inc
Cisco Systems first broke a horizontal resistance and long-term negative trend line simultaneously. It is now breaking its 200-day moving average. Frontrunner is also predicting more highs coming.
Arthur J Gallagher Co
Arthur J Gallagher is making another attempt to break top resistance with a gap. Notice that this share has now moved into the top trend category with a dark green Trend Factor.
JSE Stocks
JSE All Shares
The JSE All Shares is also in a sideways move with global markets.
Kap Industrial Holdings Ltd
Kap Industrial Holdings stole the limelight on the JSE with its 5.3% gain. It made a Power Signal in oversold territory with an engulfing bull candle and its MACD changing color.
Algomodel Strategies, Education & Features
Click on Education or go to the home page to view education posts.
Frontrunner, Gaps, Trend and Cyclic Indicators are explained in these education posts.
All stock graphs are shown with a Trend Candles Template which is a feature available in Algomodel Signals Pro.
