TAGS: Technical analysis
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News in Brief
Bloomberg:
- Asian stocks fall as traders await BOJ decision.
- Funds that have dodged China’s stock rout say it’s time to buy.
- ‘Magnificent Seven’ power AI-driven stock rebound.
- Stocks get AI boost to kick off Central-Bank week.
- TSMC bulls ignore Buffett’s warning and stick to AI bet.
MarketWatch:
- AI raises existential crisis for Apple, Salesforce and tech’s old guard: Partner or perish.
- Alphabet’s stock heads for best day in a year as Apple may use Google AI engine.
- Nvidia’s stock is cheap in many ways, says this analyst who sees 34% upside. [$1200 target]
- Micron’s AI story is building – and fueling optimism ahead of earnings.
- Tesla’s stock rallies as prices for Model Y electric vehicle will increase in April.
yahoo! finance:
- Nvidia unveils next-generation AI chip.
- Apple is getting serious about AI.
- Nasdaq soars to lead stocks higher as Nvidia spurs AI hopes.
- Google jumps after report of Apple talks on Gemini integration.
Although analysts are now recommending other AI stocks, Nvidia stays the leader. They just unveiled the world’s most powerful chip for AI.
Global Indexes
S&P 500
The S&P 500 closed above its EMA8 line, but the Fed’s decision pending is still keeping the index below its 5180 resistance.
DAX
The DAX is also trending sideways with another uncertain doji below its 18000 resistance.
HANG SENG
The HANG SENG is still trending down, now below its EMA8 line. Notice how its 50 DMA (dark blue) has flattened out.
NYSE & NASDAQ Stocks
Alphabet Inc
Alphabet broke its 50 DMA (dark blue) with a 4.4% gap. It is still very hesitant with an inverted hammer as it is not confirmed that Apple will use its AI engine.
Caterpillar Inc
After its earnings beat Caterpillar is just trending higher and higher.
JSE Stocks
JSE All Shares
The JSE All Shares is in all negative territory and not a good investment as its short- and long-term performances are all negative.
Sasol Ltd
There is the old saying: ‘If you think a share cannot go lower … it can’! Sasol is doing just that, and we adjusted our 15 week negative trend line to coincide with its 50 DMA (dark blue). Notice that its Trend Factor changed from dark green to light green during October 2023 and from then it was only one way traffic … down.
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.
