TAGS: How do you analyze stocks for beginners
Bloomberg:
- US stocks drop for sixth session as rate woes persist
- Goldman and Blackrock sour on stocks as recession risk rises
MarketWatch:
- ‘True carnage’: Stock-market selloff wipes $13 trillion in market cap off broad U.S. benchmark
- Oil prices bounce off a nearly 9-month low as hurricane Ian curbs US gulf production
- US stocks close at lowest level in nearly 2 years as S&P 500 sees longest losing streak since February 2020
- Bank of America clients are buying the dip in US stocks, shifting from cyclicals to defensive
While indexes are below their EMA8 and negative trend lines, any positive move should be treated as a bounce. Most indexes are giving a Power Signal for a turn as markets are in very oversold territory.
Global Indexes
S&P 500
Although the S&P 500 closed negative, it still managed to stay above a very important support. Notice that a previous power signal was also on this level.
DAX
The DAX also closed negatively, but also in oversold territory. The slightest positive move will activate a Power signal for this index too.
HANG SENG
The HANG SENG is continuing its slide, but also moving into oversold territory.
NYSE & NASDAQ Stocks
Livent Corp
As we are in oversold territory, many Power signals were activated. Livent Corp was one of them. Notice the last 3 candles. After the inverted hammer the bounce came as a high wave candle.
Deere Company
Deere Company is showing uncertainty at the $330 level with an inverted hammer followed by a long-legged doji. Notice the flag it is busy forming.
JSE Stocks
JSE All Share
The JSE All Share made a hesitant positive move after the hammer candle out of oversold territory. We do have divergence in place for a turn.
Capitec Bank Holdings Limited
Capitec made a strong positive move after the hammer candle. Notice the 19.2% correction for the month. Not one of my favorites, maybe more so after reading ‘The Stellenbosch MAFIA’ book, but that is just my personal opinion. Technically the bounce also came with divergence in oversold territory. Notice that the Trend Factor turned red.
Algomodel Startegies, 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.
