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Technical Analysis: MSCI EMU Growth: The bullish dynamic continues

Euri - 100

The MSCI EMU Growth Index consists of a sample of representative companies which show the growth of stocks within the Euro zone countries. Following the exit out of the top of a consolidation phase in the form of a «rectangle» in place for almost a year, this Index presents, in the medium term, a bullish trend as evidenced by the orientation of the 100-day moving average and the registration of ascending peaks. .....


Day By Day – Indipendent Research


14022011


 

Close price 78,20

2 months Opinion BULLISH
2 weeks Opinion POSITIVE

Resistances 79,65 / 81,61 pts
Supports 77 / 74,8 pts

Anticipation  :
More recently, the Index has exited by the upper threshold of a rectangle (accumulation phase) between the support at 74.80, and
the former resistance, which becomes a support at 77, corresponding to the trough of July 2008. Prices are now drawing a pull-
back to the pattern, a scenario that calls for a continuation of the bullish dynamic.
We are positive in the short-term, and considering the rallying towards the resistance at 81.61, with an intermediate target at 79.65.
We set the invalidation threshold for this positive opinion slightly below the support at 77.


Traker’s Name Leverage Expense ratio
AMUNDI ETF MSCI EUROPE GROWTH x1 0,35%
iShares DJ Euro STOXX Growth x1 0,40%
Lyxor ETF MSCI EMU Growth 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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