TAGS: How to analyse shares and stocks
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News in Brief
Bloomberg:
- Asian stocks mixed ahead of China congress remarks.
- Tech giants drag down US stocks after torrid rally.
MarketWatch:
- Delta Airlines raises checked-baggage fees 17% following similar moves by rivals.
- ‘Magnificent Seven’ shed $233 billion in market cap, dragging down stock market.
- Morgan Stanley’s bearish strategist may be right for the wrong reason.
- Opinion: Biden gets the blame for US inflation staying higher for longer.
yahoo! finance:
- Stocks fall as tech, rate-cut doubts creep in.
- Tesla’s 2-day slump takes stock to 2022 lows.
- Target pops amid earnings beat, CEO vows return to growth.
- Apple iPhone sales plunge 24% in China.
- AMD stock analysts sets surprising new price target.
It was at the big tech giants where profit taking stepped in to drag markets lower.
Global Indexes
S&P 500
After the uncertain doji the S&P 500 made a gap down to close on its EMA8 line.
DAX
The DAX is also trending down with small body candles, still above its EMA8 line.
HANG SENG
Its 50 DMA (drak blue) acted as support for the HANG SENG and it is busy making a piercing candle, still below its EMA8 line.
NYSE & NASDAQ Stocks
Apple Inc
Apple is in second gear with its negative trend with Frontrunner warning that the bottom has not be reached. Some analysts are speculating that Buffet is selling causing the steep negative trend with gaps.
Target Corporation
Target is favored by investors again with a 12% gap. Notice that frontrunner is warning of more highs to come, and its Trend Factor turned green.
JSE Stocks
JSE All Shares
The JSE All Shares followed global markets lower.
Harmony Gold Mining Company Ltd
Harmony was the winner of the day with a 8.5% gap that broke top resistance. Notice where the MACD turned green with Frontrunner breaking up.
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.
