TAGS: Technical analysis
News in Brief
Bloomberg:
- Stocks climb as Powell beckons smaller hikes soon
- Stocks in Asia are beating global peers by the most since 1993
- Wall Street analysts haven ‘t been this bullish on Tesla since 2015
MarketWatch:
- Stocks barrel ahead as Fed Chairman Powell says the pace of interest-rate hikes could slow in December
- U.S. economy grew 2.9% in third quarter, updated GDP data show, and there’s little sign of recession for now
- One of Wall Street’s biggest bulls now sees stocks falling early next year as Fed ‘overtightens’
All global markets are moving strong positively. The Platinum price boosted Aluminum stocks on the JSE for strong moves.
Global Indexes
S&P 500
The S&P 500 broke its 200-day moving average in one huge move. It is now in all positive territory.
DAX
The DAX is still busy with its sideways movement and closed above its EMA8 line. This index was closed and could not react on the US move yet.
HANG SENG
The HANG SENG also broke resistance and made another gap this morning. It is also moving strong towards its 200-day moving average.
NYSE & NASDAQ Stocks
NVIDIA Corporation
NVIDIA bounced from its positive trend line, in semi-oversold territory, to continue its path towards its 200-day moving average.
Tesla Inc
Tesla broke its negative trend line with a 7.7% gain. Divergence with Frontrunner showed the real turning point (purple lines).
JSE Stocks
JSE All Shares
After touching short term resistance 7 times, the JSE All Shares finally broke this resistance with a strong decisive move to the positive side.
Naspers Ltd
Naspers was one of the strong performers after forming a J-Curve. Notice that the MACD did not change to red during the J-curve.
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.
