Author: Deepashree MC

Won Europe Today

Posted on by Deepashree MC

Yesterday,

  • European markets closed lower as investor optimism was dampened by worries about the fragile Israel-Iran ceasefire, despite indications of progress in U.S.-led diplomatic efforts. Concerns about new trade tensions are growing as attention shifts to the July 8 deadline for the U.S. tariff pause. With the EU working to advance trade negotiations, aside from a limited agreement with the U.K., uncertainty surrounding potential tariff changes is emerging as a significant risk factor for European equity markets.
  • Among key movers on the Stoxx 600, shares of Stellantis (STL.IT; STLAM:IM) gained 3% after Jefferies raised its rating on the stock to “buy” from “hold”. Meanwhile, shares of Babcock (BAB.GB; BAB:LN) rose 10.7% after the company raised its medium-term growth outlook.
  • The Stoxx 600 hit resistance at its declining 10-DMA and ended the session 0.7% lower, breaching its 50- and 100-DMA. Next support is at its 200-DMA (-1.7%). We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
  • Among sectors, Food & Beverages (-242bps), Telecommunications (-173bps), and Chemicals (-145bps) lagged the most. Automobiles and Parts (+38bps) and Financial Services (+2bps) were the sole gainers.
  • Among major indices, France’s CAC 40 hit resistance at its 200-DMA and closed 0.8% lower. It continued to trade below all its key moving averages. Support is at its June low (-0.7%). Germany’s DAX 30 hit resistance at its 21-DMA and fell 0.6%. It was testing support at its 10-DMA. Next support is at its 50-DMA (-0.6%). The U.K.’s FTSE 100 also ended the session 0.5% lower after hitting resistance at its 21-DMA. Support is at its 50-DMA (-0.8%), followed by its 100-DMA (-1.2%).
  • All the 16 markets we track closed in the red. Three are in a Confirmed Uptrend, six in an Uptrend Under Pressure, three in a Rally Attempt, and four in a Downtrend.
  • The Stoxx 600 was shifted to a Rally Attempt from a Downtrend.
  • Ireland recorded its seventh distribution day. The average distribution day count stood at 4.33.
  • All 23 European Focus List names are trading above their 200-DMA, while 16 names are trading above their 50-DMA.
  • Actionable names in the Focus List include Alk-Abello B (ALK.DK; ALKB:DC), Odfjell Drilling (ODDR.NO; ODL:NO), Bawag Group (BWGP.AT; BG:AV), and Safran (SGM.FR; SAF:FP).

Won Global View

Posted on by Deepashree MC

The U.S. market remains in a Confirmed Uptrend. The S&P 500 closed flat, while the Nasdaq gained 30bps. Next resistance is at an
all-time high (6,147/ 20,205), with support at the rising 21-DMA (5,975/19,429). The distribution day count stands at five and four,
respectively, after one day expired on the S&P 500 yesterday after the close. One distribution day is set to expire on each index today after
the close.

Won Europe Today

Posted on by Deepashree MC

Yesterday,

  • European stocks rose sharply following a ceasefire between Israel and Iran, which eased geopolitical tensions. Energy stocks underperformed as oil prices fell 5% amid decreased risk to the Strait of Hormuz. Meanwhile, travel and airline shares surged sharply. Investors are now focused on the upcoming U.S. tariff-pause deadline on July 8, as the EU works to finalize trade deals, though meaningful progress has been limited so far.
  • Among key movers on the Stoxx 600, shares of Alstom (ALOT.FR; ALO:FP) surged 7.7% after the company received a €1.7B contract to deliver 96 next-gen trainsets in France.
  • The Stoxx 600 booked a gain of 1.1% and reclaimed its 50- and 100-DMA. Next resistance is at its 21-DMA (+1%). We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
  • Among sectors, Travel & Leisure (+409bps), Banks (+312bps), and Technology (+189bps) were the top gainers. Oil & Gas (-250bps) was the sole decliner.
  • Among major indices, France’s CAC 40 gained 1% and tested resistance at its 50- and 200-DMA. It continued to trade below all its key moving averages. Immediate resistance is at its 200-DMA (+0.3%). Germany’s DAX 30 closed 1.7% higher and reclaimed its 10-DMA. Next resistance is at its 21-DMA (+0.8%). The U.K.’s FTSE 100 ended the session flat after hitting resistance at its short-term moving averages. Support is at the confluence of its 50- and 100-DMA (-1.6%).
  • Fourteen of the 16 markets we track closed in the green. Three are in a Confirmed Uptrend, six in an Uptrend Under Pressure, two in a Rally Attempt, and five in a Downtrend.
  • Norway recorded its first distribution day. The average distribution day count stood at 4.44.
  • All the 23 European Focus List names are trading above their 200-DMA, while 17 names are trading above their 50-DMA.
  • Actionable names in the Focus List include Alk-Abello B (ALK.DK; ALKB:DC), Odfjell Drilling (ODDR.NO; ODL:NO), Bawag Group (BWGP.AT; BG:AV), and Safran (SGM.FR; SAF:FP).

Won Global View

Posted on by Deepashree MC

The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq closed 1.1–1.4% higher, clearing above recent highs
(6,060/ 19,800). Next resistance is at an all-time high (6,147/ 20,205) and support is at the rising 21-DMA (5,963/ 19,375). The distribution
day count remains at six and four, respectively. However, one day is set to expire on the S&P 500 today after the close and one will expire
on both indices tomorrow after the close.

Won Europe Today

Posted on by Deepashree MC

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

  • Last week, most European markets ended lower, with Denmark seeing a steep decline of about 6%. Ireland, Italy, and Switzerland also saw declines of more than 2%. On the other hand, Finland recorded slight gains and Norway rose almost 1% to a 52-week high. Many indices have declined below their 21-DMA and are approaching support at their 50-DMA, with market trends showing increasing pressure.
  • All sectors declined during the week, except Energy (+1.3%). Health Care (-3.9%) led the losses, followed by Transportation (-2.6%). The remaining sectors fell 1–2%.
  • We are growing more cautious on European markets as key indices have fallen below their initial support levels and breakout activity has declined sharply, with more failed breakouts. Increased tensions in the Middle East, particularly the possibility of Iran blocking the Strait of Hormuz, could worsen the current downtrend in earnings. Banks appear to be particularly vulnerable. However, if volatility continues, investors may become more interested in defensive sectors.

Won Global View

Posted on by Deepashree MC

The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq bounced off their 21-DMA support and closed ~90bps
higher. Indices are testing resistance near recent highs (6,060/ 19,800), with support at their rising 21-DMA (5,950/19,321). The
distribution day count remains at six and four, respectively. However, two days on the S&P 500 and one on the Nasdaq will expire this
week.

Won Global View

Posted on by Deepashree MC

The U.S. market remains in a Confirmed Uptrend. On Friday, the S&P 500 and Nasdaq declined 22bps and 51bps on higher d/d
volume, respectively, and registered a distribution day. Indices were relatively flat last week, consolidating above their 21-DMA (5,943,
19,290) support and 3–4% off all-time highs. The distribution day count increased to six and four, however, two days on the S&P 500 and
one on the Nasdaq will expire this week.

Won Europe Today

Posted on by Deepashree MC

On Friday,

  • European stocks closed higher as sentiment improved after the U.S. delayed its decision regarding involvement in the Middle East, easing immediate geopolitical fears. However, markets still ended the week lower, with investors remaining cautious and focused on the ongoing Israel-Iran conflict and broader global risks.
  • Among key movers on the Stoxx 600, shares of Berkeley Group (BKG.GB; BKG:LN) fell 8.1% despite better-than-expected profit in FY25, as the company announced CFO Richard Stearn as the new CEO. Meanwhile, shares of Stora Enso (EGR.FI; STERV:FH) surged 14.7% after the company launched a strategic review of its €5.8B Swedish forest assets, including a possible listing.
  • The Stoxx 600 tested resistance at its 100-DMA and closed the session 0.1% higher. Next resistance is at its declining 10-DMA (+1.8%), while support is at its 50-DMA (-0.4%). We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
  • Among sectors, Travel & Leisure (+106bps), Banks (+70bps), and Automobiles & Parts (+64bps) were the top gainers, while Health Care (-78bps), Oil & Gas (-63bps), and Food & Beverages (-17bps) lagged the most.
  • Among major indices, France’s CAC 40 tested resistance at its 200-DMA and gained 0.5%. Next resistance is at its 50-DMA (+1%). Germany’s DAX 30 bounced off its 50-DMA and closed 1.4% higher. Immediate resistance is at its declining 10-DMA (+1.2%), followed by its 21-DMA (+2.1%). The U.K.’s FTSE 100 fell 0.2% after testing resistance at its short-term moving averages. Support is at its 100-DMA (-1.9%), followed by its 50-DMA (-2.2%).
  • Sweden and Finland markets were closed. Ten of the 14 open markets closed in the green. Three of the 16 markets we track are in a Confirmed Uptrend, 10 in an Uptrend Under Pressure, two in a Rally Attempt, and one in a Downtrend.
  • All the 22 European Focus List names are trading above their 200-DMA, while 15 names are trading above their 50-DMA.
  • Actionable names in the Focus List include Bawag Group (BWGP.AT; BG:AV) and Safran (SGM.FR; SAF:FP).

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 Akzo Nobel (AKZA.NL; AKZA:NA), Brenntag (BNRX.DE; BNR:GR), Atlas Copco B (ACBF.SE; ATCOB:SS), Renault (RENU.FR; RNO:FP), Tui (TUI1X.DE; TUI1:GR), Beiersdorf (Xet) (BEIX.DE; BEI:GR), UBS Group (UBSG.CH; UBSG:SW), and Hexagon B (EKBF.SE; HEXAB:SS).

Won Global View

Posted on by Deepashree MC

The U.S. market is in a Confirmed Uptrend. The S&P 500 declined 3bps on higher volume, while the Nasdaq was up 13bps on lower
volume. Indices are testing resistance near recent highs (6,060; 19,800) and support at their rising 10-DMA (5,990; 19,513). The next level
of support is at their rising 21-DMA (5,940; 19,274). The distribution day count remains at five and three, respectively.