TAGS: Software for stock market analysis
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News in Brief
Bloomberg:
- S&P 500 wraps up turbulent month near lows of day.
- Citi strategists say traders are piling up short bets on stocks.
MarketWatch:
- Dow ends lowest level of, stocks cement February losses.
- General Motors is reportedly cutting around 500 jobs, a month after CEO said ‘We’re not planning layoffs’.
- AMC stock tumbles after 14th consecutive quarterly loss, fourth straight year in red.
- Rivian stock sinks 10% after revenue miss, weak outlook.
- HP holiday earnings chopped in half, CEO says ‘we continue to see a slowdown’ in PC sales.
- Opinion: Marc Benioff’s Salesforce fairy tale is crumbling down around him.
With all the negative news it is not surprising that February was a negative trend month.
Global Indexes
S&P 500
The S&P 500 has 2 hammer candles and 2 inverted hammer candles next to each other in oversold territory. These are all turning candles as its EMA8, 50-day and 200-day moving averages are grouping together. The Bulls and Bears are fighting it out on what happens next?
DAX
The DAX is just as uncertain and is happily continuing its sideways movement.
HANG SENG
The HANG SENG is making a positive attempt to break its EMA8 and negative trend lines. All this is happening just above its 200-day moving average that is acting as support.
NYSE & NASDAQ Stocks
Rivian Automotive Inc
The zoomed-out picture of Rivian Automotive is not the share you want to invest in. Trend Factor -33.9 and a total drop of 90.7% . All stock signals in Algomodel Pro are sorted according to their trend factor to help select the best trending shares.
Apple Inc
Apple does not have the greatest Trend Factor (16.2) currently, but at least it is positive. The share is very uncertain at its 200-day moving average with a long-legged doji, 2 hammer and 2 inverted hammer candles. This is all happening in oversold territory.
JSE Stocks
JSE All Shares
Some more uncertainty for the JSE All Shares too. A small body long-legged candle confirms the uncertainty at its 50-day moving average.
Kap Industrial Holdings Ltd
After a long abc correction, KAP is showing signs of turning with an engulfing bull candle in oversold territory.
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.
