TAGS: How to analyse shares and stocks
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News in Brief
Bloomberg:
- Spiraling Meme stock mania puts Korea market regulators on alert.
- Stocks grind higher at start of busy economic week.
- Emerging-market rally runs into doubts over China and Fed.
- Markets show China needs a stimulus ‘Bazooka’ to woo investors.
- China asks some funds to avoid net equity sales to boost market.
MarketWatch:
- Investors parked heavy in cash may be making a ‘mistake,’ Nuveen says.
- Meta, Alphabet and 10 under-the-radar media stocks expected to soar.
- Tech stock rally faces ‘trouble’ as tightening by central banks overshadows AI, says BofA.
yahoo! finance:
- Uber Eats’ new AI chatbot will offer recommendations.
- Goldman strikes deal to sell financial advisory unit.
- Inflation and jobs data jobs data on tap as Fed’s path remains in focus.
- Another leadership crisis at Goldman Sachs.
After evaluating all the data, markets reacted positively.
Global Indexes
S&P 500
The S&P 500 closed above its EMA8 line and now needs to get above its 50-day moving average (dark blue) to be in positive territory again.
DAX
The DAX is very confused about direction with six hammer and inverted hammer candles in 8 eight days. Yesterday’s hammer candle closed above its EMA8 line, also below its 50-day moving average.
HANG SENG
Uncertainty also for the HANG SENG index but, nevertheless it is forming a new trend line and is similarly above its EMA8 line and below its 50-day moving average.
NYSE & NASDAQ Stocks
Meta Platforms Inc
Meta is showing signs of a turn with its long-legged doji on $276 support and now touching its negative trend line. Its 50-day moving average is still as resistance above.
JPMorgan Chase Co
Also signs of a turn for JPMorgan Chase in oversold territory. We have an inverted hammer, high wave and doji candles next to each other with Frontrunner moving positively. Also, below its 50-day moving average.
JSE Stocks
JSE All Shares
The JSE All Shares ignored all the confusion and is moving positively, also below its 50-day moving average.
Northam Platinum Holdings Ltd
Platinum shares took the lead on the JSE. Northam Platinum closed on its 50-day moving average. Notice where Frontrunner broke up and that 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.
