TAGS: Tools to analyse stocks
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News in Brief
Bloomberg:
- Amazon leads rebound in battered tech as traders rebound on risk
- Retail traders power crazed week as Bed Bath & Beyond soars 179%
- Tesla market value debate rages on: Is it a tech or car company?
MarketWatch:
- Yellen says U.S. will hit debt ceiling Thursday, as analysts warn of ‘significant market pain’ while Congress acts
- Bank of America’s Subramanian says S&P 500 earnings risk a 10% drop in 2023
- Dow closes up more than 100 points as earning season begins, stocks book best week of gains in 2 months
yahoo! finance:
- Musk bid to move fraud trial out of San Francisco rejected
- Tesla price cuts are ‘right medicine at the right time’: analyst
- Apple CEO Tim Cook agrees to 40% pay cut
We can expect a lot of volatility on markets this week as earning season kicks off. Currently markets are moving in an opposite direction to the negative news and if earnings do not support this direction …. “POOF!”
Global Indexes
S&P 500
We have another attempt of the S&P 500 to break its 200-day moving average and its long-term negative trend line. Earnings season kicking off will have the last say if a true break will happen? We are in very overbought territory.
DAX
The DAX is stalling its positive trend with a small body candle, also in overbought territory.
HANG SENG
Similar to other global indexes, the HANG SENG is also in overbought territory, but still extending its positive trend.
NYSE & NASDAQ Stocks
Shopify Inc
Shopify made a large engulfing bull candle to break its 50-day and 200-day moving averages.
JPMorgan Chase Co
Volatility is already starting as can be seen on the chart of JPMorgan Chase. We have a very large engulfing bull candle in overbought territory. These are two contradicting signals that would need confirmation of next move.
JSE Stocks
JSE All Shares
Similar to global markets the JSE All Shares also extended its positive move in overbought territory.
Dis-Chem Pharmacies
After Dis-Chem Pharmacies was driven down by the market due to their empowerment policy, it started to lift its head with divergence. It broke its 50-day moving average and notice where its MACD turned green.
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.
