TAGS: Tools to analyze stocks
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News in Brief
Bloomberg:
- China markets set for weak showing as growth target disappoints.
- Star investor fuels best week for Adani stocks since Hendenberg.
- Adnoc gas draws $124 billion of orders for $2.5 billion IPO.
MarketWatch:
- Apple’s stock has 5 overlooked catalysts that will drive it higher, analysts says.
- Ford seeks patent to repossess a car remotely – by locking owners out of their cars and cutting off AC.
- Ford launches new in-house driverless-car devision.
- Tesla is getting boring. That isn’t a bad thing for the stock.
- S&P 500 post best day in 6 weeks as stocks cement weekly gains.
yahoo! finance:
- Tesla stock pops as China sales jump in February.
- Stocks surge, stage big end-of-week rally as yields fall.
The 200-day moving average acted as a strong support for markets as all the global indexes took the path north.
Global Indexes
S&P 500
After the bounce on its 200-day moving average the S&P 500 broke the other resistances above to move into positive territory. Notice how Frontrunner broke up in oversold territory.
DAX
The DAX did not stay behind. It made a breakaway gap and will most probably break top resistance today.
HANG SENG
Although its growth target disappointed, even the HANG SENG is making an attempt to break its 50-day moving average. Negative trend lines are broken.
NYSE & NASDAQ Stocks
Apple Inc
After dipping only 2 days below its 200-day moving average Apple made a breakaway gap to break upwards again. Frontrunner broke up and the MACD changed color. We did not draw the flag, but it is a flag break as well. (Can you see the flag?)
Albemarle Corporation
Albermarle made a double bottom with divergence and is busy with its W formation. Never underestimate a share with a Trend Factor of 47 (dark green) when it comes to potential moves. We concentrate mostly on shares with the best Trend Factors.
JSE Stocks
JSE All Shares
The JSE All Shares did not have time to respond to the US late move, but also showed signs of breaking up again. It closed on its 50-day moving average and Frontrunner closed near its negative trend line. We anticipate that both resistances can be broken today.
Kumba Iron Ore Ltd
After Kumba Iron Ore made several attempts to break top resistance without success, it corrected back to its 200-day moving average. The average acted as support with 2 long-legged doji’s forming on it in oversold territory. It started to lift its head after the two turning candles with a 2.6% gain.
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.
