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Content
Signals
All indicators - Medium term
British American TobacMay 16, 2024
Legal & General Group May 16, 2024
Sage Group PLCMay 16, 2024
Admiral Group PLCMay 16, 2024
Spectris PLCMay 16, 2024

The market showed a small loss Thursday, and UK 100 (CBOE) ended the day at 841 points, which is a decline of 0.2 percent.

945 shares showed a gain and 844 showed a loss. 136 shares were unchanged and closed at the same price as the previous day. There was no trading in 202 shares.

Total value of the trading volume for shares and primary capital certificates Thursday was approximately 649.4 billion.

GSK closed down 2.0 percent to 1778 pence. The stock thereby reversed down after 14 days of gains. Technically, however, it looks good. The stock is trend wise positive in the medium term, has support at 1710 pence and a further increase is indicated.
British American Tobacco PLC gained 0.8 percent to 2490 pence. The stock thereby broke the earlier top it set Feb 8 and reached a new year-high. The stock has thereby closed up seven out of the past eight days. The stock triggered a buy signal by the break up through the resistance at 2480 pence in double bottom formation. A further increase to 2685 pence within six months is indicated.
Shell Plc ended with a steep loss of 2.6 percent and closed at 2849 pence. The previous time the stock lost this much was Jan 17, when it closed down 3.1 percent. The stock is trend wise positive in the medium term.
BT GROUP soared and ended at 132 pence, which is a rise of 16.9 percent. The stock has never gained more in one day since we started measuring this Jun 5. 2000. The stock has now risen for the fourth day in a row. Since the buy signal from the rectangle formation two days ago, the stock now has gained 19.1 percent. The volume was also high. At session end it was bought and sold shares for about 16647 million pence in the stock, which equals four times mean daily turnover.
Centrica PLC ended with a solid gain of 4.3 percent and closed at 146 pence. We must go back to Jul 27. 2023 to find an equally strong rise. That time the stock gained 7.2 percent. The stock has thereby closed up eight out of the past nine days. Since the buy signal from the rectangle formation four days ago, the stock now has gained 8.7 percent.

US 500 weakly lower Thursday
The market showed a small loss Thursday, and S&P 500 ended the day at 5297 points, which is a decline of 0.2 percent.

Indices
UK 100 (CBOE)
arrow green   Positive Candidate
UK 100 (CBOE) has broken the rising trend up in the medium long term. This signals an even stronger growth rate. The price has risen strongly since the positive signal from the rectangle formation at the break through resistance at 774. The objective at 821 is now met, but the formation still gives a signal in the same direction. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the index has support at approximately 792 points. RSI above 70 shows that the index has strong positive momentum in the short term. Investors have steadily paid more to buy the index, which indicates increasing optimism and that the price will continue to rise. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The index is overall assessed as technically positive for the medium long term.
S&P 500
arrow green   Positive Candidate
Investors have paid higher prices over time to buy S&P 500 and the index is in a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. The index has marginally broken up through resistance at points 5260. An established break predicts a further rise. RSI above 70 shows that the index has strong positive momentum in the short term. Investors have steadily paid more to buy the index, which indicates increasing optimism and that the price will continue to rise. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The index is overall assessed as technically positive for the medium long term.
Today´s Case
HSBC Holdings PLC (HSBA) Price 712.35, May 16, 2024
chart
HSBC Holdings PLC has broken up from an approximate horizontal trend channel in the medium long term after investors have paid ever more. A positive signal has been triggered and further increase for the stock is indicated. The stock has met the objective at 717 after a break of the rectangle formation. The price has now fallen, but the formation indicates further rise. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the stock has support at approximately 637 pence. Volume tops and volume bottoms correspond badly with tops and bottoms in the price. This weakens the trend break. RSI above 70 shows that the stock has strong positive momentum in the short term. Investors have steadily paid more to buy the stock, which indicates increasing optimism and that the price will continue to rise. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The stock is overall assessed as technically positive for the medium long term.
Recommendation: Positive
Latest days indices
AEX0.02%913.56
CAC40-0.62%8188.49
COMPX-0.26%16698.00
DAX-0.69%18739
HEX0.76%10391.00
N100-0.20%1554.58
OMXC25GI0.57%2310.45
OMXSPI-0.52%992.96
OSEBX0.52%1416.42
PSI20-0.72%6920.62
TECDAX-0.51%3444.03
BUK100P-0.20%841.48
EURUSD0.08%1.0900
CL (OIL)0.76%79.23
Indices Evaluations
 SML
AEXpospospos
CAC40posneutralpos
COMPXpospospos
DAXpospospos
HEXposneutralneg
N100pospospos
OMXC25GIpospospos
OMXSPIpospospos
OSEBXpospospos
PSI20pospospos
TECDAXneutralneutralpos
BUK100Ppospospos
EURUSDposneutralneutral
CL (OIL)negposneutral

S: Short term.    M: Medium term.    L: Long term.
Stock Exchange barometer
FTSE 100 - Medium term
 
      
63% 19% 18%
 62 Buy Candidates
 19 Neutral
 17 Sell Candidates
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Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer. The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.


Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer. The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.

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