Technical Analysis: EUROSTOXX50 NET RETURN: the rectangle is triggered

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The DJ EUROSTOXX 50 Net return aims to replicate the performance of the Dow Jones EURO STOXX Dividends reinvested, regardless of its evolution. In February 2009 it began a strong upswing characterized by a technical configuration called a «V- Bottom» reflecting the end of the decline. This trend was interrupted for several months by a flat consolidation, but the recent overflow of the 2010 peaks revived the bullish  momentum…...

Day By Day – Indipendent Research

24012011 1


Close price 457,37

2 months Opinion BULLISH
2 weeks Opinion POSITIVE

Resistances 459 / 482,5 pts
Supports 442 / 433 pts

Anticipation  :
In the shorter-term, this delay has occurred inside a rectangle. Prices are exiting by the top of this pattern, with support from the 100 day moving average, releasing a bullish potential. The target is found by tracing the height of the rectangle at the exit point. We therefore target 510 points with an intermediate target at 482.50 points. We place the invalidation of this scenario below the last low point at 433 points.

Traker’s Name Leverage Expense ratio
EasyETF Euro STOXX x1 0,30%
iShares EURO STOXX (DE) x1 0,21%

* 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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