TAGS: Stock analysis for beginners.
Free Subscription: Subscription is necessary to receive an email when market reviews are posted.
News in Brief
Bloomberg:
- Bikenstock falls almost 13% as US trading debut flops.
- Novo Drugs Ozempic and Wegovy are shaking up stock markets again.
- Huawei encroaches on Tesla’s turf, pushing the China EV Najer up 50%.
MarketWatch:
- Dividend stocks are dirt cheap. It may be time to back up the truck.
- In surprise move, UAW says 8,700 Ford workers walk off job at Louisville plant.
- IRS notifies Microsoft it owes an additional $29 billion in back taxes.
- Rally in US stocks sparked by unusual option-market trading activity, strategist says.
yahoo! finance:
- Inflation expected to have moderated in September.
- Stock rise as all eyes turn to consumer inflation data.
- Asian stocks gain after US brushes off hot PPI.
The current rally continues on all Global Markets.
Global Indexes
S&P 500
The positive trend of the S&P 500 remains in play as it approaches its 50 DMA.
DAX
Similar for the DAX as it approaches 3 resistances grouping together.
HANG SENG
Similar for the HANG SENG that made a gap to trade on its 50 DMA resistance today.
NYSE & NASDAQ Stocks
Eli Lilly and Co
Eli Lilly is breaking top resistance with its rally. With an annual return of 84.8% it must be one of the best performers listed on the S&P 500.
Microsoft Corporation
We will have to see how the back taxes claim is going to influence the price of Microsoft as it closed just below its negative trend line in overbought territory.
JSE Stocks
JSE All Shares
The JSE All Shares took a breather with a long-legged doji also just below its 50 DMA. Breaking the 50-day moving averages are the key to be back in positive territory for all the indexes.
Woolworths Holdings Ltd
Woolworths broke its negative trend line with a 1.4% gain. Notice that the MACD turned green and that the turn came with divergence in oversold territory.
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.
