TAGS: Stock market analysis made easy.
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News in Brief
Bloomberg:
- Asian stocks rise as US economy momentum slows.
- Stocks fall as weak treasury sale lifts UD yields.
- Wall Street diverges on ‘double-edge sword’ data.
MarketWatch:
- Even with guilty verdict, Trump unlikely to be put behind bars before November’s election.
- Economy losing momentum amid lingering inflation pressure, says Wall Street economist.
- Opinion: Stocks are set to break out of a trading range – one way or another.
- Dell earnings show fervent AI demand, but margin talk sends stock sliding.
- Salesforce’s stock suffers biggest drop in two decades.
yahoo! finance:
- Dow extends slide as Salesforce plummets after earnings.
- Dell’s AI server sales fail to impress investors.
- Oil extends decline with supply in focus before OPEC+ meeting.
- Tesla shareholders advised by proxy adviser to reject Musk’s pay package.
It was the tech shares that corrected while other shares seem to have reached support.
I will be away next week and will only resume the market reviews thereafter.
Global Indexes
S&P 500
It was the tech correction that made the S&P 500 extend its negative trend.
DAX
The DAX is now close to its 50 DMA and long-term positive trend line supports.
HANG SENG
The HANG SENG is lifting its head in oversold territory, still below its EMA8 and negative trend lines.
NYSE & NASDAQ Stocks
C3 Ai Inc
C3 Ai surged 19.4% with EPS beaten by 63.71%. One analyst is actually predicting a high of $50. During the past 4 reports this share has beaten EPS by 47%, 29%, 52% and now 63%.
salesforce.com Inc
Not a good picture for CRM. The 19.7% drop took it all the way past its 200 DMA in all negative territory. Frontrunner is predicting more lows to come. Notice all the warning red gaps on the share chart. Analysts have not adjusted their target prices yet as we are below the previous lowest price prediction.
JSE Stocks
JSE All Shares
The negative trend of the JSE All Shares was extended as the index followed global markets lower and uncertain election results did not help this index either.
Woolworths Holdings Ltd
WHL warned that their expected annual earnings to be more than 20% lower than the prior year, partly impacted by the sale of its David Jones business and consumer cutting down on discretionary spending. The net result is that this share remains in a negative trend.
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.
