. Index Analysis Report With Charting Trends - 05 September 2023

Index Analysis Report With Charting Trends – 05 September 2023

Index Analysis Report With Charting Trends – 05 September 2023

05 Sep 2023

Asian Markets in Focus Today.

Today is the start of the macroeconomic calendar, and the APAC session will be the focus. Investors will once again be looking for an improvement from the struggling economy to boost mood.

The Shanghai composite is down at 0.71. Overall, the Singapore MSCI is up 0.25% to 284.28. Over in Hong Kong, the Hang Seng Index is down by 2.06% to 18456.91. In Japan, the Nikkei 225 was up 0.30% to 33036.76, while the Topix index was up 0.17% to 2377.85. South Korea’s Kospi down 0.71% to 3154.37. Australia S&P/ASX 200 down 0.61% to 7314.30.

European stocks lower; weak Chinese data sets the scene for European disappointment.

The DAX futures contract in Germany traded 0.12% lower, CAC 40 futures in France down 0.26% to 7260.41 and the UK 100 futures contract in the U.K. up 0.14% to 7463.56

U.S. stock futures declined on Tuesday

Yesterday’s trading week started off quite quietly as traders took advantage of the US Labour Day weekend to take a little break before important data and central bank activity in the coming days.

Tuesday morning, at the beginning of the week’s holiday break, stock futures are lower.

The Dow Jones Industrial Average futures declined 79 points, or 0.23%. Nasdaq 100 futures down 0.24%, while S&P 500 futures fell 0.23%.


Exponential Moving Average

  • EMA 5: The 5-day EMA stands at 34844.72, indicating a Sell signal.
  • EMA 20: The 20-day EMA is at 34807.63, signalling a Buy sentiment.
  • EMA 50: The 50-day EMA currently sits at 34811.63, suggesting a Buy indication.

Simple Moving Average

  • SMA 5: The 5-day SMA shows a value of 34855.7, reinforcing the Sell recommendation.
  • SMA 20: With a value of 34819.3, the 20-day SMA also supports a Buy sentiment.
  • SMA 50: The 50-day SMA registers at 34817.6, affirming a Buy indication.

RSI (Relative Strength Index)

The RSI, calculated over a 14-day period, stands at 51.39 signifying a Positive signal.

Stochastic Oscillator

The %K value of the Stochastic Oscillator suggests a Negative stance.

Resistance And Support Levels

  • Resistance: The resistance level is observed at34969.07
  • Support: The support level is identified at 34757.68

Summary And Trade Suggestions

In summary, the technical analysis of Dow Jones points towards a Buy sentiment. Considering the indicators, moving averages, and oscillators, it seems favourable for traders to enter a long position.

Trade Suggestion:

  • Entry Point: 35121.27
  • Take Profit: 35451.04
  • Stop Loss: 34876.06