Author: Deepashree MC

Won Europe Today

Posted on by Deepashree MC

On Friday,

  • European markets closed lower, capping off a volatile week amid China’s stimulus measures, inflation data from
    the U.S. and Eurozone, and the European central bank’s fourth consecutive rate cut. The Health Care sector was
    under pressure, with shares of Novo Nordisk (NON.DK; NOVOB:DC) declining nearly 4% amid rising demand for
    Eli Lilly’s (LLY) competing obesity treatments.
  • The Stoxx 600 extended its losses for a second session, hitting fresh weekly lows and snapping a three-week gain.
    The index breached its 10-DMA. Near-term support is at its converging 50- and 100-DMA. We recommend a
    selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
  • Among sectors, Automobiles (+47bps) and Food and Beverage (+25bps) led the gains, while Mining (-223bps) and
    Health Care (-178bps) lagged the most.
  • Among major indices, France’s CAC 40 closed 0.1% lower. The index was facing resistance at its 100-DMA. Next
    support is at its 50-DMA. Germany’s DAX 30 declined 0.1%. The index has near-term support at its 10-DMA
    (-0.6%). The U.K.’s FTSE 100 was down 0.1%. It tested resistance at its 10-DMA. Next level of support is at its 21-
    DMA (-0.5%).
  • Denmark recorded its third distribution day and was shifted to an Uptrend Under Pressure from a Confirmed
    Uptrend as the index breached its 50-DMA.
  • Spain was shifted to an Uptrend Under Pressure from a Confirmed Uptrend as the index breached its 21-DMA.
  • Fourteen of the 16 indices we track closed in the red. One is in a Confirmed Uptrend, three are in an Uptrend Under
    Pressure, and 12 are in a Rally Attempt. The average distribution day count stood at 3.33.
  • Of the 30 European Focus List names, 28 ideas are trading above their 200-DMA, while 19 ideas are trading above
    their 50-DMA.
  • Actionable names in the Focus List include Adidas (ADSX.DE; ADS:GR), Relx (REL.GB; REL:LN), Schneider
    Electric (QT@F.FR; SU:FP), and Adyen (ADYE.NL; ADYEN:NA).

Won Global View

Posted on by Deepashree MC

The U.S. market remains in a Confirmed Uptrend. Price action was mixed across indices for last week, as the S&P 500 pulled back
65bps while the Nasdaq rose 30bps. Support for both indices is at the rising 10- and 21-DMA (6,011/19,454). The distribution day count
stands at three on both the S&P 500 and Nasdaq with one day expiring on each this week.

Won Europe Today

Posted on by Deepashree MC

We released our Weekly Global Laggards Report today. Click here to access the report. The stocks highlighted in this
report are laggards relative to their own domestic markets. We recommend that they be underweighted as they may be
vulnerable to further downside risk and underperformance. European stocks include Berkeley Group (BKG.GB; BKG:LN)
and Howden Joinery Group (HWDN.GB; HWDN:LN).

Won Global View

Posted on by Deepashree MC

The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq declined ~40bps each, with the Nasdaq adding its third
distribution day. Indices are hovering near all-time highs, with support at their rising 10-DMA (6,049; 19,677) and then their 21-DMA (6008;
19,406). The distribution day count stands at three each.

Won Global View

Posted on by Deepashree MC

The U.S. market remains in a Confirmed Uptrend. The S&P 500 gained ~80bps, bouncing off its 10-DMA, while the Nasdaq closed with
a gain of ~180bps and registered a new all-time high. Support is at their rising 10-DMA (6,048; 19,627) and then their 21-DMA (6003;
19,357). The distribution day count stands at three and two, respectively.

Won Europe Today

Posted on by Deepashree MC

Yesterday,

  • European stocks closed higher after the U.S. inflation data for November came in line with estimates, bolstering hopes of a Federal Reserve rate cut later this month and fueling market optimism. Investors are monitoring Ukraine’s use of the U.S.-made missiles against Russia, escalating tensions, raising risks for the energy markets, and boosting defense stocks.
  • Among key movers in the Stoxx 600, shares of Carl Zeiss (AFX.DE; AFX:GR) fell 12.2% following weaker-than-expected annual results, while shares of the European Focus List constituent Inditex (IND.ES; ITX:SM) slid 6.5% after the company’s nine-month sales and EBIT missed expectations.
  • The Stoxx 600 rebounded from the loss in the previous session and closed 0.3% higher. Immediate resistance is at its October high (+1%). We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
  • On the sector front, overall breadth was positive. Food and Beverages (+50bps), Financial Services (+43bps), and Technology (+38bps) were among the top gainers, while Retail (-179bps) and Utility (-73bps) led the losses.
  • Among major indices, France’s CAC 40 gained 0.4% and reclaimed its 50-DMA. It was testing resistance at its 100-DMA. Germany’s DAX 30 closed 0.3% higher, with good support at its rising short-term moving averages. The U.K.’s FTSE 100 rose around 0.3% and tested resistance at its rising 10-DMA. Immediate support is at its 100-DMA (-0.6%).
  • Eleven of the 16 indices we track closed in the green. Three are in a Confirmed Uptrend, one in Uptrend Under Pressure, and 12 in a Rally Attempt. The average distribution day count stood at 2.67.
  • Of the 31 European Focus List names, 29 ideas are trading above their 200-DMA, while 19 ideas are trading above their 50-DMA.
  • Actionable names in the Focus List include Adyen (ADYE.NL; ADYEN:NA), Relx (REL.GB; REL:LN), Schneider Electric (QT@F.FR; SU:FP), Nemetschek (NEMX.DE; NEM:GR), and Mips (MIPS.SE; MIPS:SS).

Won Europe Today

Posted on by Deepashree MC

Yesterday,

  • European markets closed lower, ending an eight-session streak of gains, primarily due to declines in mining and luxury stocks following weaker-than-expected Chinese import and export data. Investors closely monitored the political developments in France, where the center-left Socialists are expected to play a pivotal role in shaping the new government. Key economic releases suggested Germany’s inflation remained flat m/m in November, in line with preliminary estimates.
  • Among key movers in the Stoxx 600, shares of Delivery Hero (DHER.DE; DHER:GR) were down 12% after the company’s subsidiary Talabat went public on the Dubai Stock Exchange in the largest tech IPO in 2024. Shares of Ashtead (AHT.GB; AHT:LN) fell 14% after the company announced plans to move its primary listing from London to the U.S.
  • The Stoxx 600 registered a loss of 0.5% after clocking gains in the past eight sessions. Immediate support is at its rising 10-DMA (-0.4%), followed by its long-term moving averages. We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
  • On the sector front, overall breadth was negative. Telecommunications (-84bps) and Basic Resources (-77bps) led the losses, while Automobile and Parts (+89bps) and Travel and Leisure (+20bps) were among the top gainers.
  • Among major indices, France’s CAC 40 declined 1.4%, breaking below its 50- and 100-DMA. Immediate support is at its 10-DMA (-1.3%). Germany’s DAX 30 closed flat and has good support at its rising short-term moving averages. The U.K.’s FTSE 100 fell 0.5%, breaching support along its 10-DMA. Immediate support is at its 100-DMA (-0.4%), followed by its 50-DMA (-0.6%).
  • Twelve of the 16 indices we track closed in the red. Three are in a Confirmed Uptrend, one in an Uptrend Under Pressure, and 12 in a Rally Attempt. The average distribution day count stood at 2.67.
  • Of the 31 European Markets Focus List names, 29 ideas are trading above their 200-DMA, while 19 ideas are trading above their 50-DMA.
    • We added Adyen (ADYE.NL; ADYEN:NA) to our European Markets Focus List as the stock broke out of a stage-one 35-week cup-with-handle base.
  • Actionable names in the Focus List include Adyen (ADYE.NL; ADYEN:NA), Relx (REL.GB; REL:LN),Schneider Electric (QT@F.FR; SU:FP), Inditex (IND.ES; ITX:SM), and Mips (MIPS.SE; MIPS:SS).

Won Global View

Posted on by Deepashree MC

The U.S. market remains in a Confirmed Uptrend. The S&P 500 declined ~30bps, closing slightly below its 10-DMA. Immediate support
for the S&P 500 is at the rising 21-DMA (5,995). The Nasdaq also declined ~25bps. Support is at its rising 10-DMA (19,536) and then its
21-DMA (19,290). The distribution day count stands at three and two, respectively.

Won Europe Today

Posted on by Deepashree MC

We released our European Weekly Summary yesterday, click here to access the report. Key points from it include:

  • Most European indices saw acceleration in their upward momentum and moved higher last week, with most of them closing near 52-week highs or regaining major moving averages.
  • Sector performance was broadly positive with Cyclical leading the gains. On our rotation charts, Technology and Cyclical continued to exhibit positive short-term momentum while Retail and Capital Equipment are exhibiting negative short-term momentum.EXSA.DE)

Won Global View

Posted on by Deepashree MC

The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq each picked up a distribution day after declining ~60bps
on higher d/d volume. Support is at their rising 10-DMA (6,041; 19,503) and then their 21-DMA (5,991; 19,250). The distribution day count
stands at three and two, respectively.