Technical Analysis: DJ STOXX TELECOM : inside a bullish channel


The medium-term configuration of the DJ STOXX Telecom has improved during the overflow of the 100-daymoving average. Since then, the prices follow a bullish dynamic materialized by an ascending channel.. .....

Sign up for our weekly Newsletter and receive the latest ETF and ETC news.
Click here to register for your free copy

Day By Day – Indipendent Research



Close price278,98

2 months OpinionBULLISH
2 weeks OpinionPOSITIVE

Resistances286 / 297 pts
Supports277,45 / 268,7 pts

Anticipation :
In the shorter term, prices declined down to test the lower threshold of the channel, reinforced by the 100-day moving average, a regular support zone. The overflow of the last peak at 277.45 was performed with a volume that has been rising, and with a gap.
This gap, as long as it remains open, creates the conditions for a bullish acceleration, and therefore provides an opportunity for a bullish acceleration.We are positive with two successive targets. The November peak at 286 is our first target. The second is close to the top of the channel at 297.
We place an invalidation level slightly below the gap at 275.

Traker’s NameLeverageExpense ratio
EasyETF Stoxx Europe 600 Telecommunicationsx10,30%
iShares STOXX Europe 600 Telecommunications Swap (DE)x10,32%
Lyxor ETF Stoxx Europe 600 Telecommunicationsx10,30%
SPDR MSCI Europe Telecommunication Services ETFx10,50%

* 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.



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



Artículos similares

Technical Analysis: Stoxx Europe 600 Real Estate index : Clearing of the 2011 highs


Technical Analysis: Stoxx Europe 600 Insurance index: bullish breakout of the triangle


Technical Analysis: MSCI EM Asia index: towards March 2012 highs