TAGS: How to analyze shares
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News in Brief
Bloomberg:
- Money manager who got in Japan stocks early sees rally fizzling.
- Gloom grips China markets again as stimulus trade fizzles out.
- US stocks slide on specter of recession in Europe.
- Goldman sees emerging stocks eclipsing US market in size by 2030.
- BofA says investors are fleeing Tech stocks after ‘Baby Bubble’.
MarketWatch:
- With Russia revolt over, mercenaries’ future and direction of Ukraine war remain uncertain.
- US stock futures little changed after short-lived Wagner mutiny in Russia; oil futures rise.
- Intel stock suffers worst week in a year, while AMD, Broadcom notch six-session losing streaks.
- Could Uber’s stock cruise to $70? Barclays thinks it can keep riding higher in a big way.
- US stocks fall to cap off worst week since March.
yahoo! finance:
- Stocks sink as Nasdaq, S&P 500 snap lengthy weekly win streak.
- Oil nears a slide of 20% from high.
- Amazon may be largest US retailer in 2024, say JPMorgan.
As investors are fleeing Tech stocks, they are dragging all indexes down. The markets are taking a breather after a burst of strength.
Global Indexes
S&P 500
The S&P 500 was dragged below its EMA8 line by tech stocks. The six-day correction has moved it into semi-oversold territory.
DAX
The DAX made a hammer candle close to strong support in oversold territory.
HANG SENG
The HANG SENG remains in all negative territory, but also slowly moving into oversold territory. Notice that it is trading with an inverted hammer candle today, but the day is not over!
NYSE & NASDAQ Stocks
NVIDIA Corporation
The MACD of NVIDIA just turned red with divergence in place.
Uber Technologies Inc
Although Uber is recommended by institutions, we have technically divergence in place. Best to wait and see what the current J-curve is doing.
JSE Stocks
JSE All Shares
The JSE All Shares closed lower, just above its 200-day moving average. We will have to see if this support will hold.
Harmony Gold Mining Company Ltd
Gold shares made a bounce in oversold territory. Harmony bounced 3.1%, but the medium trend is still negative.
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.
