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Technical Analysis: STOXX 600 Healthcare: Strong trend

The Stoxx 600 Healthcare index comprises 36 companies representative of the European Healthcare sector….


Day By Day – Indipendent Research


This index is in a clear bullish trend, with a succession of higher peak and troughs, confirmed by the orientation of the 50-day moving average. We have no reason to question this trend: we are bullish in the medium term.

 

06022012

Anticipation  :
In the short term, the latest drop ended in a reversed head-and-shoulderpattern –over 5 days, and thereforehard to see on our chart. The 50-day moving average,very bullish, is very close and the Stochastics are oversold.This conjunction of favorableelements allows us to anticipate another short term rally.
We are thereforepositive, with a target at 449, and an intermediate objective at 442.95. The invalidation level is set just below the support at 427.

Close price433.56

2 months OpinionBULLISH
2 weeks OpinionPOSITIVE

Resistances442,95 / 449 pts
Supports427 / 418,6 pts


Follow-up Analysys: On January 16th 2012, we recommended the purchase of the Markit iBoxx $ Treasuries 3-7Y index. Since then, prices have reached our first target at 194.24 points, a +0.44% performance.

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Source: ETFWorld – Day By Day – Indipendent Research

 

 

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