TAGS: Share value analysis.
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News in Brief
Bloomberg:
- Investors bet Samsung’s smaller memory chip rival SK Hynix will be an AI winner.
- Stock losses deepen as S&P 500 Breaches key level.
- China stocks erase all reopening gains as property woes persist.
MarketWatch:
- A contrarian ‘buy signal’ for stocks has been triggered, as investors flee cash, says Bank of America.
- Opinion: Sell signs are popping up all over the stock market.
- US budget deficit swells to $1.7 trillion in fiscal 2023 as revenue tumbles.
- Tesla’s broken ‘triangle’ warns of more stock-selling pressure.
yahoo! finance:
- Apple wants to lure sports fans to its streaming service.
- Even a strong earnings season may not save stocks.
- Stocks tumble amid bond market plummeting.
- Tesla’s slowing growth sends warning to all EV makers.
Markets are continuing their negative trends with no signs of any turn.
Global Indexes
S&P 500
The S&P 500 closed below its 200 DMA in all negative territory. Its long-term support is at 4170.
DAX
The DAX made another negative gap with all negative trendlines in play. Its long-term support is at 14500.
HANG SENG
Similar for the HANG SENG with its long-term support at 15000.
NYSE & NASDAQ Stocks
Tesla Inc
We show again the triangle of Tesla that is broken. It also closed below its 200 DMA.
Amazon.com Inc
Amazon.com is busy with leg c of its abc correction. No sign of any turn.
JSE Stocks
JSE All Shares
The JSE All Shares is followed global markets lower. Also no sign of a turn with next support at 690.
Anglo American plc
Anglo American made a gap down to close on an important support with no sign of any turn.
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.
