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Technical Analysis: DJ STOXX TELECOM : inside a bullish channel

CALCOLATRICE

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.. .....


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Day By Day – Indipendent Research


10012011


 

Close price 278,98

2 months Opinion BULLISH
2 weeks Opinion POSITIVE

Resistances 286 / 297 pts
Supports 277,45 / 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 Name Leverage Expense ratio
AMUNDI ETF MSCI EUROPE TELECOM SERVICES x1 0,25%
EasyETF Stoxx Europe 600 Telecommunications x1 0,30%
iShares STOXX Europe 600 Telecommunications Swap (DE) x1 0,32%
Lyxor ETF Stoxx Europe 600 Telecommunications x1 0,30%
SPDR MSCI Europe Telecommunication Services ETF x1 0,50%

* 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.

 


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Source: ETFWorld – Day By Day – Indipendent Research

 

 

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