TAGS: Tools to analyze stocks
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News in Brief
Bloomberg:
- Stock rally hits a wall as economic headwinds loom.
- China stocks decline as Congress sets modest growth target.
- US futures slip as China’s growth goal disappoints.
- Global markets give China’s modest growth target the benefit of doubt.
MarketWatch:
- Stock market rally can keep going, says Morgan Stanley strategist who just warned of a death zone.
- U.K. stocks at record 40% discount to Wall Street will force London exodus, says Citi.
- Tesla cuts prices for Model S and Model X in US in bid to boost sales.
- An earnings recession seems inevitable, but it might not last long.
- Stocks eke out gain ahead of this week’s Powell testimony, jobs data.
yahoo! finance:
- CHIPS Act: Intel ‘scrambling to cut costs,’ analyst says.
The scary news only made the markets take a breather while technically the trend is still positive.
Global Indexes
S&P 500
The S&P 500 is hesitating with an inverted hammer, but this is not in overbought territory.
DAX
The DAX is also hesitating with a small body candle against its previous high. It is also not in extreme overbought territory.
HANG SENG
After its disappointing growth target and three inside up candle pattern, the HANG SENG is making an attempt to break its 50-day moving average. It is currently trading on it.
NYSE & NASDAQ Stocks
Apple Inc
After the breakaway gap Apple made another gap. This time however with a long-legged doji against previous resistance. We are not in overbought territory and might see this time round an attempt to break this resistance.
Enphase Energy Inc
Enphase Energy is also hesitating at its next resistance, its 50-day moving average. Nothing else is indicating that this rally is halted.
JSE Stocks
JSE All Shares
The JSE All Shares is also hesitant with its positive move but did close above its 50-day moving average.
Bidvest Group Ltd
Bidvest broke its flag and top resistance with giant gain of 15.3%. Notice that the MACD and Trend Factor 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.
