TAGS: How to analyse shares and stocks
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News in Brief
Bloomberg:
- Global banking stocks hold steady after $465 billion SVB wipeout.
- First horizon plunges 38% below TD bid in Regional Bank nightmare.
MarketWatch:
- SVB’s collapse makes it impossible to say what stocks are worth as bond-market volatility explodes.
- Dow ends over 300 points higher, snapping 5-day losing streak as bank stocks rebound and inflation cools.
yahoo! finance:
- Fed considers tougher rules for midsize banks after failures.
- Silicon Valley Bank committed ‘one of the most elementary errors in banking,’ Larry Summers say.
We had a rebound in banking stocks and data confirming that inflation cools.
Global Indexes
S&P 500
The S&P 500 touched its 200-day moving average with the bounce, but still closed below it.
DAX
The DAX also made a bounce to close on its 50-day moving average.
HANG SENG
The HANG SENG is also trading positive with the body of its candle on its 200-day moving average, but still below its EMA8 line.
NYSE & NASDAQ Stocks
Advanced Micro Devices Inc
Its 200-day moving average acted as support for Advanced Micro devices. After the long-legged small body candle made a 6.6% gain.
Tesla Inc
Its 50-day moving average acted as support for Tesla. Notice that the bounce came in oversold territory.
JSE Stocks
JSE All Shares
The JSE All Shares was still correcting but do notice that we have unconfirmed divergence in place.
MutiChoice Group Ltd
MultiChoice made a breakaway gap downwards. Notice where Frontrunner broke downwards.
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.
