TAGS: Market analysis South Africa
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News in Brief
Bloomberg:
- Asian stocks follow US gains on debt-deal optimism.
- S&P 500 up 1% on hopes for Washington breakthrough.
MarketWatch:
- 20 AI stocks expected to post the highest compound annual sales growth through 2025.
- As Alphabet flexes its AI prowess, there’s a ‘new elephant in the room’ for Google.
- ServiceNow and Nvidia team up on generative AI.
yahoo! finance:
- Netflix ad tier now has nearly 5 million monthly active subscribers.
- Stocks surge amid new hopes on debt-ceiling deal.
No one knows what will happen if the US default on their debt, as it has never happened in the past. Not even people in the White House knows, but markets do not like uncertainty. Hopes on debt-ceiling deal brought back optimism to the markets.
Global Indexes
S&P 500
The S&P 500 bounced back, but we remain in the sideways channel..
DAX
Similar for the DAX.
HANG SENG
The HANG SENG is also following the US with a positive move, still below all resistances.
NYSE & NASDAQ Stocks
Bank of America Corp
Bank of America broke its negative trend line and closed on its 50-day moving average resistance with a bullish candle.
Boeing Co
Boeing broke its negative trend and 50-day moving average lines with a 3% gain. Notice that MACD has turned green.
JSE Stocks
JSE All Shares
The JSE All Shares also turned bullish but was not able to break its short-term negative trend line yet.
Sasol Ltd
Sasol behaved similar to the index and also closed just below its negative trend line. Notice the green MACD.
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.
