China data boost the mood

China reported higher Caixin manufacturing PMI data at 50.8% vs. 50.1% expectation. The data show recovery of economic activity in March which analysts initially expect will weaken further influenced by trade-war. Global market sentiment turned positive and we could see indexes advance in Asian and European sessions.

DJIA futures also pointed higher 177 points before the market open. The market attention is focused on U.S-China trade talk this week and the development of Brexit.

Asian & European Stock market

Asian stock market mostly higher. Japan stock market up 303.22 points (+1.43%) to 21,509.03, China Shanghai Composite up 79.60 points (+2.58%) to 3,170.36, and Australia ASX 200 up 36.30 points (+0.59%) to 6,217.00. European stock market also joins the Asian market higher. DAX Germany up 1.08%, UK FTSE up 0.58%, Euro STOXX600 up 0.86%.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA futures pointed up nearly 200 points and indicate higher opening. The index closed near 26,000 resistance in the previous week and suggesting it will trade between 25,800 – 26,000. However, a breakout above 26,000 will trigger further bullish pressure and let the index continue its bullish trend.

Jabil Inc (JBL)

JBL closed the gap in the previous rally toward $29.56. It drifted lower slowly after the gap closed and currently, the share prices found support at daily SMA 200. It also coincides with horizontal support. Traders could expect a new bullish leg started from the current level.

Texas Instruments (TXN)

TXN trend slowly turned bullish since the share prices return above SMA 200. It is currently testing the averages and provides traders with the opportunity to enter long positions. If the bull could maintain the position above SMA 200 and form a strong bullish reversal pattern then TXN expected to retest $112.98