Author: Deepashree MC

Won Europe Today

Posted on by Deepashree MC

On Friday,

  • European markets closed lower in a shortened trading week, dragged down by losses in Luxury and China-exposed sectors like Miners and Automakers. Worries over China’s slowing economy and potential trade tensions with the U.S. under the new administration added to market uncertainty, while investors looked to economic data for clarity on future interest rate moves.
  • Among key movers on the Stoxx 600, shares of Stellantis (STL.IT; STLAM:IM) fell 3.8% on a 45.7% y/y decline in production in 2024. Shares of Campari (CPR.IT; CPR:IM) and Anheuser-Busch InBev (ABI.BE; ABI:BB) fell 5.2% and 2.8%, respectively, after the U.S. surgeon general called for cancer warnings on alcohol labels.
  • The Stoxx 600 reversed after hitting resistance at its declining 50-DMA and fell 0.5%. It was testing support at its 10-DMA. Next support is at its December 20 lows (-1%). We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
  • The overall sector performance was negative. Basic Resources (-180bps), Travel & Leisure (-178bps), and Automobiles & Parts (-175bps) were the top losers, while Oil & Gas (+94bps) and Utility (+15bps) were the only gainers.
  • Among major indices, France’s CAC 40 declined 1.5% after facing resistance at its 100-DMA, breaking below its 50-DMA and short-term moving averages. Support is at its November 27 lows (-2%). Germany’s DAX 30 hit resistance at its declining 10-DMA and lost 0.6%. Next support is at its 50-DMA (-1%). The U.K.’s FTSE 100 breached its 100-DMA and closed 0.4% lower, with next support at its 50- and 200-DMA.
  • 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 four.
  • Of the 29 European Focus List names, 26 ideas are trading above their 200-DMA, while 16 ideas are trading below their 50-DMA.
  • Actionable names in the Focus List include Talanx Aktgsf (TLXX.DE; TLX:GR), Relx (REL.GB; REL:LN), and Schneider Electric (QT@F.FR; SU:FP).

Won Global View

Posted on by Deepashree MC

The U.S. market remains in an Uptrend Under Pressure. Last Friday, the S&P 500 and Nasdaq gained 1.3% and 1.8%, respectively, on
above average but lower d/d volume. The S&P 500 has immediate support at its 100-DMA (5,804; -2.4%) while testing the first level of
resistance at its 50-DMA (5,945). The Nasdaq bounced from support at its 50-DMA (19,235) and is testing resistance at its 21-DMA
(19,581). The distribution day count remains elevated at six and seven, respectively.

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 Rockwool (ROC.DK; ROCKBC:IX).

Won Global View

Posted on by Deepashree MC

The U.S. market remains in an Uptrend Under Pressure. The S&P 500 and Nasdaq declined ~15–20bps on lower d/d volume. The S&P
500 has immediate support at its 100-DMA (5,798; -1%), with the first level of resistance at its 50-DMA (5,943; +1%). The Nasdaq is
testing support at its 50-DMA (19,214), with next support near July 2024 highs of 18,671. The distribution day count remains at six and
seven, respectively.

Won Global View

Posted on by Deepashree MC

The U.S. market remains in an Uptrend Under Pressure. The S&P 500 and Nasdaq declined ~45–90bps on higher d/d volume,
registering their third consecutive distribution day. The S&P 500 has immediate support near October highs of 5,878, followed by its 100-
DMA (5,792; -2%), while the Nasdaq has immediate support at its 50-DMA (19,199; -1%). The distribution day count stands at six and
seven, respectively.

Won Europe Today

Posted on by Deepashree MC

On Tuesday,

  • European markets ended the year on a positive note in a shortened trading session ahead of the New Year holiday. The Stoxx 600 gained nearly 6% over the year, with Banks (+25%), Telecom (+16%), and Financial Services (+15%) emerging as the top-performing sectors. Meanwhile, Food & Beverage, Autos, and Mining sectors underperformed, each recording a decline of around 12%.
  • Among significant movers on the Stoxx 600, shares of Canal Plus (CAN.GB; CAN:LN) were up more than 4%, while shares of the Portuguese energy group Galp Energia (GES.PT; GALP:PL) fell more than 4%.
  • The Stoxx 600 tested resistance at its declining 10-DMA and closed flat. The index continued to trade below all its key moving averages. We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
  • All the sector ETFs remained closed.
  • Among major indices, France’s CAC 40 closed around 1% higher, retaking its 21- and 50-DMA intraday on lower volume. Next resistance is at its 100-DMA.The U.K.’s FTSE 100 was up 0.6% and reclaimed its 10-DMA. Next resistance is at its 200-DMA.
  • Seven of the 16 indices we track closed in the green, while the others remained closed on account of a market holiday. One index is in an Uptrend Under Pressure, while all other indices are in a Rally Attempt.
  • Of the 29 European Focus List names, 26 ideas are trading above their 200-DMA, while 16 ideas are trading above their 50-DMA.
  • Actionable names in the Focus List include Adyen (ADYE.NL; ADYEN:NA), Schneider Electric (QT@F.FR; SU:FP), and Relx (REL.GB; REL:LN).

Won Global View

Posted on by Deepashree MC

The U.S. market remains in an Uptrend Under Pressure. The S&P 500 and Nasdaq declined ~105–120bps on higher d/d volume,
registering their second consecutive distribution day. The S&P 500 breached its 50-DMA and has immediate support near October highs of
5,878, followed by its 100-DMA (5,786; -2%). The Nasdaq closed below its 21-DMA and has immediate support near November highs of
19,366, followed by its 50-DMA (19,182; -2%). The distribution day count stands at five and six, 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:

  • European markets rose by approximately 1% during the holiday week, with trading volumes remaining subdued. The Stoxx 600 trades below its key moving averages facing resistance at its 10- and 21-DMA.
  • Investor sentiment was boosted by recent ECB rate cuts, while expectations of additional Fed rate cuts, potentially triggered by heightened U.S. tariffs, could further benefit Eurozone markets in H1 FY25.

Won Europe Today

Posted on by Deepashree MC

On Friday,

  • European stocks closed higher as markets reopened after the Christmas break. Investors remain wary ahead of the U.S. President-elect Trump’s January 20 inauguration, with his inflationary policies and tariffs posing risks to European growth. Meanwhile, China’s industrial profits fell for the fourth consecutive month in November, raising concerns about global economic pressures that could weigh on European markets.
  • Among key movers in the Stoxx 600, Swedish online gambling firm Evolution (EVOG.SE; EVO:SS) rose 3.7% as it recovered from earlier losses linked to a U.K. regulatory review while Delivery Hero (DHERX.DE; DHER:GR) fell 5.4% after Taiwan’s antitrust regulator blocked Uber’s $950M bid for its Foodpanda unit.
  • The Stoxx 600 rose 0.7%, recording its second consecutive session of gains. It remains below all key moving averages with near-term resistance at its 50-DMA (+0.9%), and support at its December 20 lows. We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
  • The overall sector performance was positive. Oil & Gas (+188 bps), Automobile and Parts (+148bps), and Financial Services (+147bps) were the top gainers. There were no losers.
  • Among major indices, France’s CAC 40 closed 1% higher, reclaiming its short-term moving averages. It is now testing resistance at its 50-DMA, and has next resistance at its 100-DMA (+1%). Germany’s DAX 30 gained 0.7%, inching closer to immediate resistance at its rising 21-DMA. Support is at its 50-DMA (-2%). The U.K.’s FTSE 100 advanced 0.2%. It is below all key moving averages, with immediate resistance at its 10-DMA (+0.4%).
  • Finland, Norway, Sweden, and Switzerland were shifted to a Rally Attempt from a Downtrend.
  • 15 of the 16 indices we track closed in the green. 14 are in a Rally Attempt, one is in an Uptrend Under Pressure, and one in a Downtrend. The average distribution day count stood at four.
  • Of the 29 European Focus List names, 26 ideas are trading above their 200-DMA, while 16 ideas are trading below their 50-DMA.
  • Actionable names in the Focus List include Lottomatica Group (LOTG.IT; LTMC:IM), Talanx Aktgsf (TLXX.DE; TLX:GR), Technogym (TGYM.IT; TGYM:IM), and Schneider Electric (QT@F.FR; SU:FP).

Won Global View

Posted on by Deepashree MC

The U.S. market remains in an Uptrend Under Pressure. Last week, indices closed with a small gain despite pulling back on Friday.
The S&P 500 is testing support at its 50-DMA (5,941), while the Nasdaq is testing its 21-DMA (19,643), followed by its 50-DMA (19,160),
which is ~3% lower. The distribution day count increased to four and five on the S&P 500 and Nasdaq, respectively.