TAGS: How to analyse shares and stocks
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News in Brief
Bloomberg:
- EV maker XPeng announces strategic partnership with Didi, shares rise in Hong Kong.
- Nvidia ‘market reaction shows US rally is over, Morgan Stanley’s Wilson says.
- Quants fail to replicate their US and China success in India.
MarketWatch:
- Stocks can still make a run for record highs in months to come, analyst says.
- Opinion: ‘The sharks are still there’. Stock market’s decline is just beginning, top fund manager says.
- Jackson Hole meeting: Stocks higher in choppy trade after Powell speech.
yahoo! finance:
- Powell watching signs economy not ‘cooling as expected’.
- SEC: Wells Fargo overcharged clients $27 million in fees.
- Is chipmaker Nvidia cornering the market?
Stocks recovered slightly after Powell’s Jackson Hole speech.
Global Indexes
S&P 500
The S&P 500 recovered slightly after the Powell speech and closed on its EMA8 line. Negative trend is still in place!
DAX
Similar for the DAX. We adjusted our negative trend lines to include the engulfing bear candle.
HANG SENG
Stocks in Asia are all positive today. The HANG SENG made a breakaway gap to break its negative trend line. Notice where Frontrunner broke up and the MACD changed color.
NYSE & NASDAQ Stocks
The Coca-Cola Co
Coca-Cola is making large shadow candles in oversold territory. This is usually an indication of a turn.
PepsiCo Inc
PepsiCo made a turn in oversold territory and closed on its negative trend line.
JSE Stocks
JSE All Shares
The JSE All Shares is also confused about direction and is also making large upper shadow. For positive moves we want the shadows below the candle body.
Harmony Gold Mining Company Ltd
As expected, Harmony Gold stalled at its 50-day moving average with an inverted hammer candle. Candle explanations can be found in educational section on the home page of this website.
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.
