TAGS: How to analyze shares
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News in Brief
Bloomberg:
- Amazon, Salesforce job cuts are warning signs for stock prices
- Stocks bounce back with brewing optimism over CPI
- Morgan Stanley joins Goldman in bullish call on Chinese assets
MarketWatch:
- ‘A year of two halves’: Stifel’s Barry Bannister expects a near-term rally in U.S. stocks – and trouble later in 2023
- Dow ends up nearly 200 points as investors wait on inflation update, earnings on horizon
- Netflix could be in for a very rough quarter, analyst warns
Markets are behaving in a different direction than the negative news. We notice some profit taking rather than mass selloffs.
Global Indexes
S&P 500
The S&P 500 closed above its 50-day moving average, continuing the positive rally.
DAX
The DAX hesitated slightly after breaking its 14700 level.
HANG SENG
After moving sideways for a few days, the HANG SENG resumed its positive trend.
NYSE & NASDAQ Stocks
Nucor Corporation
Nucor made a strong bounce on its 50-day moving average. I noticed that some analysts are giving new price targets for this stock. Notice the divergence at the turn, the MACD turning green and a strong Trend Factor.
Berkshire Hathaway B Inc
Berkshire Hathaway is hesitating at its $320 resistance in overbought territory. Frontrunner broke down and the MACD turned dark green.
JSE Stocks
JSE All Shares
As expected, profit taking stepped in on the JSE All Shares at its previous high resistance. No major break downs yet.
Foschini Group Ltd
Foschini continued its rally by breaking its 50-day moving average. Notice where the MACD turned green.
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.
