Technical Analysis: DJ STOXX Europe 600 Food & Beverage : Bullish acceleration


The DJ Stoxx600 Food & Beverage includes the 28 largest companies in the European Food sector. The Index shows a medium- term bullish trend, as evidenced by the orientation of the 100-day moving average until last February. However, the bearish correction initiated following the marking of a historical high of 373.62 points proved to be relatively deep and could therefore affect a dynamic of substance. Only the inclusion of a new peak will validate the continued bullish movement. We are neutral in the medium-term.....

Day By Day – Indipendent Research

18042011 1

Close price 359.44

2 months Opinion NEUTRAL
2 weeks Opinion POSITIVE

Resistances 360,4 / 363,4 pts
Supports 352,7 / 347 pts

Anticipation  : More recently, following a first impulse built off the major support at 331.30 points, prices marked ​​a pull-back to the support at 347 points, which re-launched the movement. The level at 352.70 points, reinforced by the 100-day moving average was overflowed, releasing an upside potential. The configuration argues in favor of a new acceleration phase towards the peaks. We are positive in the short-term, and considering the rallying towards the resistance at 366.65 points, with intermediate targets at 360.40 points and then 363.40 points. We set the invalidation threshold for this positive opinion at 349.50 points, slightly below the support at 352.70 points and the moving average.

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 0,3%

Follow-up Analysys: Our DBD Tracker dated 04/04/2011 recommended the purchase of the ISE National 30 Index. Since then, the intermediate target at 82,896 points was reached and overflowed, a performance of 4.8%.

* 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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