Stock Market News / Page 16

Technical Analysis – US 500 index edges closer to all-time high but does rally still have legs?

Posted on December 27, 2023 at 3:52 pm GMT

US 500 stock index nears 2022 record high as it extends year-end bull run But upside momentum appears to be waning Is a near-term correction on the cards? The US 500 stock index (cash) made further progress towards surpassing its all-time high of 4,817.51 on Tuesday but was nevertheless unable to crack the 4,800 level. The index is trading marginally lower on Wednesday, with the momentum indicators reflecting this weakness. The RSI has flatlined just above the 70 overbought mark, [..]

Technical Analysis – UK 100 index sticks in descending triangle in 2023

Posted on December 21, 2023 at 11:40 am GMT

UK 100 meets upper Bollinger band Price encounters upside pressure above triangle formation The UK 100 index a few weeks after the beginning of 2023 started a descending triangle formation with the top at 8,043 and a strong support level of 7,250. Currently, the price is standing above the falling trend line, after testing the upper Bollinger band and the 7,750 resistance. According to the technical oscillators, the RSI is pointing slightly upwards in the positive territory; however, the stochastic posted a bearish [..]

Technical Analysis – Tesla shares climb, but remain in a downtrend

Posted on December 20, 2023 at 12:52 pm GMT

Tesla shares reach two-month high, break above trendline Short-term outlook positive, but still in broader downtrend Break above 269 needed for longer term picture to improve Tesla shares have risen steadily over the last couple of months, breaking above some key moving averages and a downtrend line taken from the peaks of July. The price is also trading above an uptrend line drawn from the lows of October, all of which suggests that the short-term outlook is positive. The [..]

Technical Analysis – Apple stock eases from record high

Posted on December 20, 2023 at 10:45 am GMT

Apple shares post a fresh all-time peak Stock pares some gains after advance got overstretched Oscillators ease from overbought conditions Apple’s shares have been experiencing a steep uptrend since their October bottom of 165.50. Last week, the price recorded a fresh record high of 199.40 before undergoing a minor setback, with the momentum indicators relaxing from their overbought territories. Should the recent pullback extend, the price could initially test 191.11, which is the 78.6% Fibonacci retracement of the 198.08-165.50 downleg. Further declines [..]

Technical Analysis – Caterpillar stock continues to fly, hits record high

Posted on December 20, 2023 at 10:12 am GMT

Caterpillar closes at new all-time high on Tuesday Short-term picture increasingly bullish But stock is looking overbought Caterpillar stock closed at a new all-time high of 292.76 on December 19, extending its winning streak from the October low. The long-term uptrend that started in September 2022 underwent a second big downside correction between August and October, but the latest bullish phase is in danger of running out of steam as the momentum indicators have entered their overbought regions. The RSI [..]

Stock market outlook 2024: Soft landings, rate cuts, and elections

Posted on December 19, 2023 at 2:32 pm GMT

Stellar year for US stock markets, fueled by ‘soft landing’ hopes Can the rally persist in 2024, despite high valuations and election uncertainty? European valuations are much cheaper, partly reflecting recession concerns US stocks race higher, but tougher environment ahead It’s been a sensational year for US equity markets. The S&P 500 has risen more than 23% while the tech-heavy Nasdaq 100 has gained a stunning 52% so far, with both indices coming within breathing distance of their record [..]

Technical Analysis – US 500 index rallies to new highs in 2023

Posted on December 19, 2023 at 10:19 am GMT

US 500 completes 8 green weeks Overall trend remains overwhelmingly positive The US 500 cash index rose to its highest level of 4,801 in at least two years. The index is recording the eighth straight green week following the strong rebound off the ascending trend line and the 4,120 support level. Weekly oscillators suggest that upside momentum is still gaining steam, reflecting the latest bullish rally in the market. The RSI has turned up and is ready to cross above the 70 level, while [..]

Technical Analysis – Will the US 100 cash index rally ever stop?

Posted on December 18, 2023 at 4:04 pm GMT

US 100 index is a tad below the November 22, 2021 high Continued upside pressure after the November range-trading period Momentum indicators could be close to signaling a reversal The US 100 cash index is trying to record another green candle today as it prepares to test the resistance set by the November 22, 2021 high at 16,767. It has been a one-way street move from the October 26, 2023 trough with the US 100 avoiding, up to now, the typical [..]

Technical Analysis – US 500 index surges to almost 2-year high

Posted on December 14, 2023 at 9:12 am GMT

US 500 index posts 5-day bullish rally Technical oscillators look overbought The US 500 index (cash) stormed higher after validating the previous high of 4,607. Although, the price jumped to its highest level since January 2022 at 4,728, extending the strong rebound off 4,100 that it has last October. Technically, the RSI climbed above the 70 level with strong momentum, and the MACD oscillator is crossing above its trigger line well above the zero level. Both indicate an overstretched market and a [..]

Technical Analysis – JP 225 index’s rebound seems unconvincing

Posted on December 12, 2023 at 2:07 pm GMT

JP 225 index halts its aggressive retreat at the 50-day SMA Its attempt to rebound though seems to be running out of juice Momentum indicators are skewed to the downside The JP 225 index (cash) advanced after validating a double bottom pattern around the 30,400 region in late October, breaking above the crucial descending trendline. However, the price experienced a pullback following its failure to post a fresh 2023 high, which ceased around the 50-day simple moving average (SMA). Should the recent bounce resume, the bulls [..]

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