TAGS: How do you analyze stocks for beginners
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News in Brief
Bloomberg:
- Nasdaq 100 suffers its biggest drop in a month
MarketWatch:
- Morgan Stanley’s Mike Wilson warns the 2023 stock market rally could end this week
- The Fed and the stock market are on a collision course this week
- US may cut off China’s Huawei entirely from US suppliers
We have a selloff before big tech earnings and Fed meeting as investors wants to avoid risk.
Global Indexes
S&P 500
The S&P 500 corrected, but still managed to close above its EMA8 line.
DAX
While moving sideways the DAX is also managing to stay above its EMA8 line.
HANG SENG
The HANG SENG is also managing to stay above its EMA8 line. All indexes are waiting for new direction.
NYSE & NASDAQ Stocks
Tesla Inc
One of the biggest corrections was Tesla with its 6.3% correction. Notice that it was completely in overbought territory.
Colgate-Palmolive Company
Colgate-Palmolive made a downwards gap after its results. We are not big believers in the ‘golden cross’ as it lags too much. On this chart one can see how the share is correcting after the golden cross. The same happened in Aug 2022. Notice where the MACD turned red.
JSE Stocks
JSE All Shares
The JSE All Shares made a hammer and inverted hammer candle next to each other to warn about a possible change of direction.
Spar Group Ltd
Spar is still trending positively, but at its R138 resistance. If it can break this resistance the positive trend should continue.
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.
