The S&P/TSX 60 consists of sixty most important stocks of the Toronto Stock Exchange (TSX). It presents, in the medium-term, a clearly bullish trend as evidenced by the orientation of the 50-daymoving average.The inclusion of ascending peaks confirms the sense of the dynamics. ...
Day By Day – Indipendent Research
|2 months Opinion||BULLISH|
|2 weeks Opinion||POSITIVE|
|Resistances||799,3 / 821,7 pts|
|Supports||777,5 / 742 pts|
The Index has consolidated since its resistance at 821.70 points after a phase of being «overbought».The speed of its rise, representedby the MACD indicator, has weakened, announcing a relaxation of the current trend. The underlying dynamic remains bullish and the correction is already relatively profound (a 38% retracement). The proximity of the support at 777.50 points, reinforced by the 50-day moving average, is expected to give rise to a technical rebound.
We are positive in the short-term, and envisioning a rallying towards the resistance at 799.30 points.
We set the invalidation threshold for this positive opinion slightly below the support at 777.50 points.
|Traker’s Name||Leverage||Expense ratio|
|CS ETF (IE) on MSCI Canada||x1||0,48%|
|Lyxor ETF Canada||x1||0,45%|
* 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