TAGS: How to analyze shares
Free Subscription: Subscription is necessary to receive an email when market reviews are posted.
News in Brief
Bloomberg:
- Stocks give up rally above key mark after Fedspeak
- Asia stocks enter bull market as China rally extends
- Morgan Stanley warns US stocks risk 22% slump
MarketWatch:
- U.S. stocks could slump another 22% if recession arrives in 2023, Morgan Stanley’s Wilson warns
- Dow erases 300-point gain as stocks end mostly lower
- Virgin Orbit stock plunges as historic U.K. space launch suffers ‘anomaly,’ fails to reach orbit
All the scary news stalled the US rally and it closed at the lows of the day.
Global Indexes
S&P 500
The S&P 500 closed with an inverted candle on its 50-day moving average indicating unsure direction.
DAX
The DAX extended its positive rally by breaking its 14700 level. Notice that it is moving into very overbought territory.
HANG SENG
The HANG SENG is also stalling in overbought territory.
NYSE & NASDAQ Stocks
NVIDIA Corporation
NVIDIA ignored all the negative news and made a breakaway gap. It closed just above its 50-day moving average.
STAAR Surgical Company
STAAR Surgical Company was shown last week when it broke its negative trend line. It now broke its 50-day moving average with a 9% surge. It is only the 200-day moving average ahead still as resistance. Notice the 27.7% weekly gain.
JSE Stocks
JSE All Shares
The JSE All Shares extended its rally and closed on a top resistance in overbought territory. We will not be surprised if we see profit taking stepping in at this level.
Spar Group
Spar was also shown last week when it broke its negative trend line. It extended its rally with a 4% gain. Notice that the MACD is also making green bars
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.
