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Technical Analysis: Eurostoxx 50 : resumption of the bearish dynamics

9 SOLDI

The Eurostoxx50 includes the fifty main market capitalizations in the Euro zone. It follows a bearish dynamic, marked ...


Day By Day – Indipendent Research


by a succession of peaks and troughs which are lower and lower and guided by the 50-daymoving average,which acceleratedfollowing the breaking of the major support zone at 2720-2620 points (becoming a major resistance zone). We have no elements to call into question the trend at the moment. We are therefore bearish in the medium-term, anticipating a new a annual low in the coming weeks…..

12092011 1


Close price 2073.67

2 months Opinion BEARISH
2 weeks Opinion NEGATIVE

Resistances 2164 / 2216 pts
Supports 2076 / 2019 pts

Anticipation :

In the short-term, the violent bearish accelerationwas interrupted around the major level at 2250 points, and prices were delayed in a volatile fashionwithin a small ascending channel. The recent exit from the bottom of this pattern, confirmed by a quick pull-back towards the channel, signals the resumption of the bearish momentum.
We are therefore negative in the short-term and envision a further movement towards the support at 1946 points (theoretical target of the channel), with an intermediate target at 2019 points. We set the invalidation threshold for this negative opinion slightly above the 2164 resistance.
Traker’s Name Leverage Expense ratio
AMUNDI ETF SHORT DOW JONES EURO STOXX 50 x-1 0,3%
db x-trackers EURO STOXX 50 SHORT ETF x-1 0,4%
EasyETF Euro Stoxx 50 Double Short Daily x-2 0,6%
ETFX Dow Jones EURO STOXX 50 Double Short (2x) Fund x-2 0,36%
Lyxor ETF EURO STOXX 50 Daily Double Short x-2 0,6%
Lyxor ETF EURO STOXX 50 Daily Short x-1 0,6%

Follow-up Analysys: Our DBD Tracker dated 22/08/2011 recommended the sale of the DAX30. Since then, prices have reached our target of 5160 points, a performance of 5.8%.


* 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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