TAGS: How to analyse shares and stocks
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News in Brief
Bloomberg:
- First Horizon plunges 38% below TD bid in Regional bank nightmare.
- Sell any post-SVB stock bounce, says Morgan Stanley.
MarketWatch:
- Banking industry jitter could mean more pain for stocks by dragging out Fed’s battle with inflation.
- Regional banks are seeing flight of deposits to too-big-to-fail megabanks.
- Biden says Americans can have confidence that banking system is safe.
yahoo! finance:
- 20 banks are sitting on huge potential security losses.
- ‘Buy the dip in bank stocks,’ Goldman Sachs says.
While the banks are in trouble in the US, South Africa is facing a failed state as MTN’s results showed how devastating power cuts are on the economy.
Global Indexes
S&P 500
The S&P 500 had a high volatile session to end the day with an uncertain long-legged candle in negative territory.
DAX
The DAX also took the plunge and broke its 50-day moving average downwards.
HANG SENG
The HANG SENG is still hanging onto its 200-day moving average for support. Will it hold?
NYSE & NASDAQ Stocks
Apple Inc
While banking shares are still dropping, we show Apple. After it could not break the $155 resistance it corrected back to its 200-day moving average. It made an engulfing bull candle on the average line that acted as support.
Solaredge Technologies Inc
Solaredge Technologies had a similar situation and is making its engulfing bull candle on its 50-day moving average.
JSE Stocks
JSE All Shares
The results of MTN showed how devastating power sharing is on SA’s economy. The JSE All Shares went into second gear with its correction.
MTN Group Ltd
The results of MTN collapsed with a 10.7% drop. Notice that all the technical performance percentages are negative. MACD warned about 3 weeks earlier to get out.
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.
