Technical Analysis: DJ STOXX UTILITIES: pull-back


The DJSTOXX Utilities is an Index comprising the largest European companies in the Utilities sector. Last May, it developed a strong downtrend that ended after several tests of the zone at 290 points. Since those low points, prices resumed their upward climb and mark ascending peaks. The bullish trend has been confirmed more recently by the overflow of the major resistance at 320…...

Day By Day – Indipendent Research

31012011 1


Close price 324,04

2 months Opinion BULLISH
2 weeks Opinion POSITIVE

Resistances 332,2 / 338 pts
Supports 320 / 310,1 pts

Anticipation  :
In the shorter-term, the last bounce off the support at 310.10 points is very dynamic. It coincides with the 100-day moving average. After a test of the resistance at 332.20 points, a pull-back draws itself at the support at 320 points: a new impulse is expected at this level (formerly a major resistance). These technical elements now argue in favor of a rally towards the previous peaks at 345.40 points with an intermediate target of 338 points.
Only a close below 318.5 points invalidates this scenario.

Traker’s Name Leverage Expense ratio
EasyETF Stoxx Europe 600 Utilities x1 0,30%
ETFX Dow Jones STOXX 600 Utilities Fund x1 0,30%
iShares STOXX Europe 600 Utilities Swap (DE) x1 0,32%
Lyxor ETF Stoxx Europe 600 Utilities x1 0,30%
SPDR MSCI Europe Utilities 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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