TAGS: Technical analysis software
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News in Brief
Bloomberg:
- Stock traders look past Nvidia after solid US GDP.
- Asian stocks rebound after upbeat economic data.
MarketWatch:
- Dow scores 25th record close of year, while S&P 500 and Nasdaq slip.
- GDP update shows US’s economic expansion in second quarter was stronger than initially reported.
- US first-time unemployment claims edge lower.
- Buy Nvidia’s stock on the dip, analysts say.
yahoo! finance:
- Nvidia’s beat wasn’t enough to impress Wall Street.
- HP Jumps after reporting first sales increase since 2022.
- Oil surges with focus on US economy and Libyan supply outage.
- Google to open second data center in Latin America, to invest over $850 million.
- Dell beats Q2 revenue estimates on strong AI server demand.
Nvidia’s best was not good enough for investors as it wasn’t the kind of blowout to which investors have grown accustomed to. Do not be surprised if we get a rebound.
Global Indexes
S&P 500
The S&P 500 closed with an inverted hammer just above its EMA8 line. It has now moved out of its extreme overbought situation into neutral territory.
DAX
The DAX extended its rally past top resistance.
HANG SENG
Its 50 DMA acted as support for the HANG SENG with a strong rebound.
NYSE & NASDAQ Stocks
Novo Nordisk AS
NVO consolidated with a flag and is touching the top of the flag with a gap.
NVIDIA Corporation
Although NVIDIA had a selloff, Wall Street analysts say it’s still a ‘Buy’. The average of 62 analysts gives it a target price of $148. Watch the technical dip if you do not own this share.
JSE Stocks
JSE All Shares
The JSE All Shares is still building a flag and thus also moved into neutral territory.
Woolworths Holdings Ltd
We had to show Woolworths again. It has now touched log-term resistance 6 times. This time with a long-legged doji.
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.
