The DJ Stoxx 600 Construction & Materials Index includes the 24 largest companies in the European Construction sector. Following the low point recorded in August 2010, the Index presents, in the medium-term, a sustained bullish trend, supported by....
Day By Day – Indipendent Research
|2 months Opinion||BULLISH|
|2 weeks Opinion||POSITIVE|
|Resistances||310,45 / 317,1 pts|
|Supports||297,5 / 285,9 pts|
the 100-day moving average and marked by a succession of troughs and peaks which are higher and higher. The recent overflow of the 297.50 point level on which the prices had stumbled several times, confirms the continuation of the trend. We are bullish for the coming weeks.
More recently, following an initial bullish impulse, the pull-back to support at 285.90 points reinforced by the 100-day moving average has revived the movement and led to the overflow of the 297.50 point level, a former major resistance, which became a support. The overflow of this key threshold releases a significant upside potential and therefore advocates an extension of the acceleration phase in progress.
We are positive in the short-term and target a rallying towards the resistance at 310.45 points, coinciding with the target produced by an extension of the previous impulse (blue arrows).
We set the invalidation threshold for this positive view slightly below the 297.50 support.
|Traker’s Name||Leverage||Expense ratio|
|EasyETF Stoxx Europe 600 Construction and Materials||x1||0,30%|
|Lyxor ETF Stoxx Europe 600 Construction and Materials||x1||0,30%|
Follow-up Analysys: Our DBD Tracker dated 18/04/2011 recommended the purchase of the DJ Stoxx 600 Construction & Materials. Since then, the first target has been reached at 360.40 points, a performance of 2.4%.
* 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.
This publication is solely intended as information and does not constitute any investment advice or an offer, solicitation or recommendation to acquire or dispose of any investment or to engage in any transaction. Althoughthis publicationis issued in good faith, no representation or warranty, express or implied, is or willbe made and no responsibility or liability is or willbe accepted by NYSE Euronext or by any of its officers, employees or agents in relation to the accuracy or completeness of this publicationand any such liability is expressly disclaimed.No information set out or referred to in this publicationshall form the basis of any contract. The creation of rights and obligations in respect of financial products that are traded on the exchanges operated by NYSE Euronext’s subsidiaries shall depend solely on the applicable rules of the market operator. NYSE Euronext encourages you to reach your own opinion as to whether investments are appropriate or relevant and recommends you not to make any decisions on the basis of the information contained in this publication before checking it, as you will bear full responsibility for any use that you make of it. Persons wishingto trade products available on NYSE Euronextmarkets or wishingto offer such products to third parties are advised, before doing so, to check their legal and regulatory position in the relevant territory and to understand the related risks. All proprietary rights and interest in or connected with this publicationare vested in NYSE Euronext.No part of it may be redistributed or reproduced in any form or by any means or used to make any derivative work (such as translation, transformation, or adaptation) without the prior written permission of NYSE Euronext. NYSE Euronext refers to NYSE Euronext and its affiliates and references to NYSE Euronext in this publication include each and any such company as the context dictates. NYSE EuronextSM, Euronext®, trackers®, are registered marks of NYSE Euronext.
Source: ETFWorld – Day By Day – Indipendent Research