10% tax on stock market gains - Sözcü Newspaper

A 10% tax reduces investors’ after‑tax returns, potentially generating short‑term selling pressure. Alphabet Inc. (GOOGL) displayed strong momentum with a 10% gain within 24 hours, yet its Relative Strength Index (RSI) sits at 77.8, indicating overbought conditions. The MACD and Simple Moving Average (SMA) indicators continue to support an uptrend, suggesting that any pullback may not be substantial. Overall, a modest decline is anticipated in the near term.

The announcement of a 10% tax on capital gains could erode investor confidence and generate short‑term selling pressure. ASELS remains above its MACD signal line yet is negative, signalling a short‑term decline. A 24‑hour rise of 2.06% may indicate a brief rebound, but the tax news could erode that momentum. The stock’s position above the 20‑day simple moving average (SMA) could signal medium‑term resistance, though immediate selling pressure could pull the price below the SMA. Overall, a short‑term downward trend is expected.