TAGS: Tools to analyze stocks
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News in Brief
Bloomberg:
- Apple and Microsoft have never held more sway over the S&P 500.
- Top hedge fund says ‘violent’ emerging-market is coming.
- Darkening gloom in Chinese stocks puzzles Wall Street Veterans.
- Tesla’s plunge drags Valuation below $500 billion on margin fear.
- China reopening party over as emerging markets slip back to void.
MarketWatch:
- First Republic customers will keep all of their money. But the company’s stock is worth zero in its current form.
- Opinion: Better start saving more money, because rainy days are here.
- Amazon stock gives up gains as CFO admits AWS growth rates are declining further.
- Snap stock falls nearly 20% on revenue miss.
- Meta’s stock rally makes Mark Zuckerberg about $11 billion richer.
- An undiscovered universe of stocks is trading at ‘near generational lows,’ asset manager says.
- Are we in the beginning of a new bull market? The odds are against it.
yahoo! finance:
- Alphabet, Meta lure back advertisers.
- Investors are too bearish on tech: analyst.
- Netflix loses 1m Spain users amid password focus.
- US judge declares mistrial in Apple-Masimo watch fight.
We are at strong resistance levels after the latest rally. Can resistances be broken or will May month take its toll again?
Global Indexes
S&P 500
The S&P 500 made a doji against resistance and similar candles against resistances for the Dow and Nasdaq.
DAX
The DAX was closed, but at its last trading day it closed with a large long-legged hammer candle. We will have to see today if this turning candle gets confirmed.
HANG SENG
The HANG SENG lifted its head above its 50-day moving average with a leg that could be a leg b of an abc correction. It is still early in the day so we will have to see if the index can close above the average line.
NYSE & NASDAQ Stocks
NVIDIA Corporation
NVIDIA remains our top AI choice share and it is also one of the few shares that managed to break top resistance.
JPMorgan Chase Co
JPMorgan Chase made a late-night scramble to buy First Republic. The share closed close to its strong top resistance.
JSE Stocks
JSE All Shares
The JSE All Shares was closed yesterday and made a long-legged small body candle last week on its 50-day moving average. The candle shows uncertainty about next move. We will have to wait to see if support will hold?
Northam Platinum Holdings Ltd
Northam Platinum also made a long-legged small body candle on its 200-day moving average and trend line with a positive bounce. It was forming a J-curve on support.
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.
