TAGS: Stock market analysis made easy.
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News in Brief
Bloomberg:
- Stocks rise as bullish Nvidia call boosts AI trade.
- Nvidia extends rally as bull sees valuation nearing $5 trillion.
- Stocks rise after solid UD industrial production.
MarketWatch:
- Nvidia is now the largest company in the US as stock extends big run.
- Nvidia’s stock packs 50% more upside, says Wall Street’s new biggest bull.
- ‘Long Magnificent Seven’ is now one of the most crowded trades on record, new poll shows.
- Stock-market investors clamor for rate cuts.
yahoo! finance:
- S&P 500, Nasdaq notch records as Nvidia takes crown.
- Boeing CEO hammered in Congress: ‘Why haven’t you resigned?’
- Investors can’t afford to miss the AI rally.
- AI enthusiasm prompts 3 Wall Street banks to raise forecasts.
Nvidia is now the largest company by market cap. It dethroned Microsoft just two weeks after surpassing Apple.
Global Indexes
S&P 500
Another new high for the S&P 500.
DAX
The DAX is gaining hesitantly in oversold territory.
HANG SENG
It was the negative trend line that was broken by the HANG SENG with its 50 DMA acting as support. It is now back in positive territory above its EMA8 line.
NYSE & NASDAQ Stocks
NVIDIA Corporation
With its new high Nvidia is now the largest company in the US. You remember the old saying: “Let your winners run and get rid of your losers fast”.
Exxon Mobil Corporation
Its 200 DMA is acting as support for XOM after its abc correction. It is making an indecision high wave pattern on the moving average. Notice that the average target price is $131.
JSE Stocks
JSE All Shares
One large bullish candle for the JSE All Shares with uncertainties about the new government taking shape. we are almost back to where the correction started. Notice that the 50 DMA (dark blue) acted as support.
Sasol Ltd
Even Sasol turned bullish with a 10.4% gain. It broke its short-term negative trend line with a level 3 divergence in place. It is however still in negative territory below all the resistances above.
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.
