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Technical Analysis: FTSEurofirst 100: The bullish dynamic continues

EURO

The FTSEurofirst 100 Index comprises stocks of the 100 largest European companies. Following the low point marked in March  2009, in the medium term this Index is in a bullish trend, as evidenced by the orientation of the 100-day moving average.....


Day By Day – Indipendent Research


07022011 1


 

Close price 3636,57

2 months Opinion BULLISH
2 weeks Opinion POSITIVE

Resistances 3717 / 3820 pts
Supports 3510 / 3400 pts

Anticipation  :
More recently, following the overflow of the former major resistance at 3510 points (which became a support), the Index has performed a pull-back at this level and then rises again and marks new highs. We are positive in the short-term and envision a continued bullish movement in the direction of the resistance at 3820 points, with  an intermediate target of 3717 points.
We set the invalidation threshold for this positive opinion slightly below the support at 3510 points.


Traker’s Name Leverage Expense ratio
AMUNDI ETF S&P EUROPE 350 x1 0,35%
iShares FTSEurofirst 100 x1 0,40%

* 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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