Week Ahead, 25 Nov 2024
Macro News:
All eyes were on Nvidia Corp this week as the company
reported another set of record earnings. However, the revenue forecast fell
short of analysts' expectations, causing the stock price to decline by -3.22%
on Friday.
Based on historical price action, the stock often experiences
profit-taking or selling pressure after earnings announcements. Technically, as
long as NVDA remains above the 150-day Simple Moving Average (SMA), the
medium-term uptrend momentum persists. If NVDA trades below this level, we will
reassess not only Nvidia Corp but also the overall medium-term trend of the AI
theme.
·
S&P 500: The S&P 500 index is
retesting the 6,000 level, with immediate support at the 5,800 level.
·
STI: The Straits Times Index (STI) has
returned to the resistance zone at 3,730. No significant technical signals have
been observed. If momentum continues, the index could move towards the 3,860
level.
·
Hang Seng Index: The Hang Seng Index is
nearing the 19,000 level, a key support level (Fibonacci 61.80%). Technically,
the ability to maintain above this level indicates that the uptrend remains
intact.
·
S&P 500 remains upward
·
Hang Seng Index (HSI) remains upward
·
Straits Times Index (STI) neutral to upward
trend.
- China Nov PMI
- SG Oct CPI, Ind Prod
Disclaimers
apply