The STOXX Europe 600 Health Care Index brings together the 34 largest companies in the health sector of Europe. It presents a bullish dynamic materialized by a succession of troughs and peaks which are higher and higher. Similarly ...
Day By Day – Indipendent Research
|2 months Opinion||NEUTRAL|
|2 weeks Opinion||POSITIVE|
|Resistances||401,54 / 407,6 pts|
|Supports||394,5 / 381,8 pts|
In the short-term, prices correct the strong bullish impulse initiated in mid-March. They are now close to the major level at 394.50 points, a former resistance which has become a support. This level is important: it is close to the 50% retracement of the previous impulse and is reinforced by the 100-day moving average (a dynamic support). Contact with this solid support should result in a technical rebound.
We are short-term positive and envision a rally towards the resistance at 407.60 points, with an intermediate target of 401.54 points.
We set the invalidation threshold for this opinion slightly below the major support at 394.50 points.
|Traker’s Name||Leverage||Expense ratio|
|AMUNDI ETF MSCI EUROPE HEALTHCARE||x1||0,25%|
|EasyETF Stoxx Europe 600 Health||x1||0,30%|
|Lyxor ETF Stoxx Europe 600 Health Care||x1||0,30%|
|SPDR MSCI Europe Health Care ETF||x1||0,30%|
Follow-up Analysys: Our DBD Tracker dated 06/06/2011 recommended the sale of the CAC 40 index. Since then, prices have reached our target of 3760 points, a performance of 2.6%.
* 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