TAGS: How to analyse shares and stocks
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News in Brief
Bloomberg:
- Stocks in India bounce back from verge of correction.
MarketWatch:
- First Republic gets $30 billion in deposits from 11 major U.S. banks including JPMorgan Chase, BofA and Wells Fargo.
- First Republic Bank bonds, stock rally as big banks announce $30 billion pledge.
- FedEx’s aggressive cost cuts are beating weaker demand in battle for investor sentiment.
- U.S. stocks end sharply higher as First Republic gets rescue from banks.
yahoo! finance:
- Yellen says SVB didn’t ‘undermine’ confidence in system.
- Kellogg CEO: Rebranding was ‘daunting’.
Rescue from major banks for SVB brought some stability back to markets.
Global Indexes
S&P 500
After a few days of volatile instability, the S&P 500 bounced back up to close above its 200-day and EMA8 average lines.
DAX
The DAX made a bounce with an uncertain very long-legged doji. We need to see if this turning candle gets confirmed today.
HANG SENG
The HANG SENG is attempting to work its way up above its 200-day moving average again.
NYSE & NASDAQ Stocks
Advanced Micro Devices Inc
Advanced Micro Devices is outdoing the bank bounces with its 7.7% gain of the day. Notice that we have a green MACD and a dark green Trend Factor.
Adobe Systems Inc
Adobe Systems made a breakaway gap to break its negative trend line and is attacking its 50-day and 200-day moving averages. It also has a positive MACD and Trend Factor again. All this happened with divergence in place.
JSE Stocks
JSE All Shares
The JSE All Shares correction stalled with a long-legged turning doji. Notice the divergence that is in place.
Standard Bank Group Ltd
Standard Bank also reached its 200-day moving average that is acting as support. Frontrunner is breaking up, MACD is changing color and all this is happening in oversold territory.
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.
