Technical Commentary: The Stoxx Europe 600 Real Estate index is composed of the 21 most representative companies of the European Real Estate sector……..
Day By Day – Indipendent Research
This index is evolving in a bullish trend, supported by the 200-day moving average and recently confirmed by the clearing of the 127.10 points major level. This event opens the way to a significant upside potential for the weeks to come.
The trend is thus clearly bullish over the medium term.
Anticipation :
In the shorter term, the clearing of the former major resistance should allow a new bullish move to unfold towards the next obstacle, at 133.20 points (dating from 2008). After such a signal, it is common to see prices pulling back to confirm the breakout. Only the reintegration of this level (127.1) would be a problem, and this is the reason why we chose this level as our invalidation threshold. We are thus short-term bullish, with a target at 133.20 points and a stop-loss below 127.10 points.
| Close price | 129 |
| 2 months Opinion | BULLISH |
| 2 weeks Opinion | POSITIVE |
| Resistances | 133,2 / 141,5 pts |
| Supports | 127,1 / 123,4 pts |
Follow-up Analysys: On December 3rd, we recommended the purchase of the Stoxx Europe 600 Insurance index. Since then, price accelerated after breaking out of the triangle and reached our intermediate target at 174.70 points.
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This publication is solely intended as information and does not constitute any investment advice or an offer, solicitation or recommendation to acquire or dispose of any investment or to engage in any transaction. Althoughthis publicationis issued in good faith, no representation or warranty, express or implied, is or willbe made and no responsibility or liability is or willbe accepted by NYSE Euronext or by any of its officers, employees or agents in relation to the accuracy or completeness of this publicationand any such liability is expressly disclaimed.No information set out or referred to in this publicationshall form the basis of any contract. The creation of rights and obligations in respect of financial products that are traded on the exchanges operated by NYSE Euronext’s subsidiaries shall depend solely on the applicable rules of the market operator. NYSE Euronext encourages you to reach your own opinion as to whether investments are appropriate or relevant and recommends you not to make any decisions on the basis of the information contained in this publication before checking it, as you will bear full responsibility for any use that you make of it. Persons wishingto trade products available on NYSE Euronextmarkets or wishingto offer such products to third parties are advised, before doing so, to check their legal and regulatory position in the relevant territory and to understand the related risks. All proprietary rights and interest in or connected with this publicationare vested in NYSE Euronext.No part of it may be redistributed or reproduced in any form or by any means or used to make any derivative work (such as translation, transformation, or adaptation) without the prior written permission of NYSE Euronext. NYSE Euronext refers to NYSE Euronext and its affiliates and references to NYSE Euronext in this publication include each and any such company as the context dictates. NYSE EuronextSM, Euronext®, trackers®, are registered marks of NYSE Euronext.
Source: ETFWorld – Day By Day – Indipendent Research
TDay By Day – Indipendent Research
This index has evolved in a bullish trend since a reversed head-an-shoulder pattern was triggered at the end of 2011. Such a reversal pattern generally allows a sustainable movement to unfold. The medium-term trend is bullish
Anticipation :
In the shorter term, prices are also evolving in a bullish dynamic, alternating acceleration and consolidation phases. The latest consolidation phase has been contained by the 369.50 points support, corresponding to the 38% retracement ratio of the last bullish impulse. This solid level should allow the trend to resume towards the 387 points resistance – March 2012 highs.
The 100-day moving average (ascending) is nearby and confirms our anticipation.
We are short-term bullish and we set the invalidation threshold of this scenario slightly below the 369.50 points support, which breach would generate a deeper correction towards the 360.40 points support.
| Close price | 378,65 |
| 2 months Opinion | BULLISH |
| 2 weeks Opinion | POSITIVE |
| Resistances | 387 / 396,3 pts |
| Supports | 369,5 / 364,4 pts |
Follow-up Analysys:On November 19th, we recommended the purchase of the FTSE MIB index. Since then, prices bounced as expected, and are now heading towards our 15810 points target.
DISCLAIMER
This publication is solely intended as information and does not constitute any investment advice or an offer, solicitation or recommendation to acquire or dispose of any investment or to engage in any transaction. Althoughthis publicationis issued in good faith, no representation or warranty, express or implied, is or willbe made and no responsibility or liability is or willbe accepted by NYSE Euronext or by any of its officers, employees or agents in relation to the accuracy or completeness of this publicationand any such liability is expressly disclaimed.No information set out or referred to in this publicationshall form the basis of any contract. The creation of rights and obligations in respect of financial products that are traded on the exchanges operated by NYSE Euronext’s subsidiaries shall depend solely on the applicable rules of the market operator. NYSE Euronext encourages you to reach your own opinion as to whether investments are appropriate or relevant and recommends you not to make any decisions on the basis of the information contained in this publication before checking it, as you will bear full responsibility for any use that you make of it. Persons wishingto trade products available on NYSE Euronextmarkets or wishingto offer such products to third parties are advised, before doing so, to check their legal and regulatory position in the relevant territory and to understand the related risks. All proprietary rights and interest in or connected with this publicationare vested in NYSE Euronext.No part of it may be redistributed or reproduced in any form or by any means or used to make any derivative work (such as translation, transformation, or adaptation) without the prior written permission of NYSE Euronext. NYSE Euronext refers to NYSE Euronext and its affiliates and references to NYSE Euronext in this publication include each and any such company as the context dictates. NYSE EuronextSM, Euronext®, trackers®, are registered marks of NYSE Euronext.
Source: ETFWorld – Day By Day – Indipendent Research
