Technical Analysis: DJ Stoxx 600 Food & Beverage : Bounce off the support


The DJ Stoxx600 Food & Beverage includes the 28 largest companies in the European Food sector. The Index shows, in the medium-term, a strong bullish trend, as evidenced by the orientation of the 200-day moving average and the  drawn ascending peaks. We have no elements that challenge this trend yet. ...

Day By Day – Indipendent Research

21022011 1


Close price 349,64

2 months Opinion BULLISH
2 weeks Opinion POSITIVE

Resistances 360,4 / 366,64 pts
Supports 342,8 / 332 pts

Anticipation  :
More recently, following the marking of a new historical high at 373.71 points, the Index has corrected to the support at 342.80 points. This support, tested twice, and now reinforced by the 200-day moving average, should allow a resumption of the bullish movement in the direction of the peaks. The rising MACD indicator also confirms this bullish scenario. We are positive in the short-term, and considering the rallying towards the resistance at 366.64 points, with an intermediate target of 360.40 points.
We set the invalidation threshold for this positive scenario slightly below the support at 342.80 points.

Traker’s Name Leverage Expense ratio
iShares STOXX Europe 600 Food and Beverage Swap (DE) x1 0,32%
Lyxor ETF Stoxx Europe 600 Food and Beverage x1 0,30%

* A leverage of 1 means that the ETF/Tracker has the same performance as the underlying index. A leverage of 2 indicates that the ETF/Tracker will have twice the performance of the underlying index. A leverage of -1 indicates that the ETF/Tracker will perform opposite that of the index: it will rise while the index falls, and vice versa.



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Source: ETFWorld – Day By Day – Indipendent Research



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