Author: Deepashree MC

Won Europe Today

Posted on by Deepashree MC

Yesterday,

  • European markets ended marginally in the green. The Stoxx 600 continued making new 52-week highs. Real
    Estate gained the most, while Telecommunications led the decline.
  • We recommend that investors add risk in stocks that are part of leading industry groups and are breaking out of proper bases with a strong and rising RS line.
  • The Stoxx 600 closed 0.21% higher. The index had marginal moves but made new two-year highs. Support levels: 21-DMA (1.8% below), 50-DMA (2.8% below), and 200-DMA (5.2% lower). Next levels of resistance: 490 (1% above) and 495 (2.1% above).
  • Among major indices, Germany’s DAX, France’s CAC, and the U.K.’s FTSE have retaken all their key moving
    averages.
  • Among the 16 indices we track, closes were mixed. Seven indices are in a Confirmed Uptrend, six in an Uptrend
    Under Pressure, two in a Rally Attempt, and one in a Downtrend. The average distribution day count is currently at 4.6.
  • Actionable names in the Focus List include Brunello Cucinelli (BC.IT; BC:IM), Recordati Indua. Chimica (REC.IT; REC:IM), Beiersdorf (Xet) (BEIX.DE; BEI:GR), Bae Systems (BA.GB; BA/:LN), Vat Group (VACN.CH; VACN:SW), Bridgepoint Grp (BPT.GB; BPT:LN), Novo Nordisk ‘B’ (NON.DK; NOVOB:DC), Sanlorenzo (SANL.IT; SL:IM), Trigano (TRI.FR; TRI:FP), Nemetschek (Xet) (NEMX.DE; NEM:GR), and Saab B (SAAB.SE; SAABB:SS).

European Weekly Summary

Posted on by Deepashree MC

Key points from this week’s report:

Please refer to the attached PDF for the full report.

  • European markets had a strong week and gained the most on a weekly basis since the start of the year, aided by upbeat earnings. The Stoxx 600 bounced off its 21-DMA to make a new 52-week high and was shifted to a Confirmed Uptrend.  
  • Positive momentum was seen in Cyclicals and Technology, aided by LVMH and ASML earnings. Other than Utility, all sectors closed in the green. On our rotation graph, Technology, Capital Equipment, and Health Care are showing improvement in their short-term momentum. Retail, Basic Material, Consumer Cyclical, and Energy are showing a decline in their short-term momentum.
  • Sector Score Cards – Top-rated names breaking out of consolidations:
    • Basic Material: Kemira (KEMR.FI)
    • Capital Equipment: Andritz (AND.AT)
    • Consumer Cyclical: Jet2 (JET2.GB), San Lorenzo (SANL.IT, FL Constituent)
    • Consumer Staple: Cranswick (CWK.GB)
    • Technology: Asml (ASML.NL, FL Constituent), Nemetschek (NEMX.DE, FL Constituent), Sopra (DOP.FR), and Atoss Software (AOFX.DE)
  • European Focus List Update:
    • Actionable names include Swissquote ‘R'(SQN.CH; SQN SW), Inditex (IND.ES; ITX SM), Recordati Indua.Chimica (REC.IT; REC IM), GTT (GTT.FR; GTT FP), Beiersdorf (Xet) (BEIX.DE; BEI GR), BAE Systems (BA.GB; BA/ LN), Vat Group (VACN.CH; VACN SW), Sanlorenzo (SANL.IT; SL IM), Trigano (TRI.FR; TRI FP), Nemetschek (Xet) (NEMX.DE; NEM GR), Saab B (SAAB.SE; SAABB SS).
    • Addition: ASML Holding (ASML.NL)
    • Removal: None

Won Global View

Posted on by Deepashree MC

The U.S. market is in a Confirmed Uptrend. Indices gained ~1% last week as the S&P 500 continues to trade near
all-time highs while the Nasdaq is only ~5% off its all-time high of ~16,200. Support for both indices is at their
respective rising 10-DMA (4,840/15,282). The distribution day count stands at five and two, respectively, with none
expiring this week.

Won Europe Today

Posted on by Deepashree MC

On Friday,

  • European markets ended in the green and had the best weekly gains in 2024. The Stoxx 600 bounced off its 21-
    DMA, made a new 52-week high, and was shifted to a Confirmed Uptrend. Earnings from LVMH helped the luxury sector gain momentum. Except Technology and Utility, all sectors closed in the green.
  • We recommend that investors add risk in stocks that are part of leading industry groups and are breaking out of proper bases with a strong and rising RS line.
  • The Stoxx 600 closed 1.1% higher. The index retook its 21-DMA on above average volume. It is at its 52-week high and 2.4% off its all-time high. Support levels:21-DMA (1.7% below), 50-DMA (2.8% below), and 200-DMA (5% lower). Next levels of resistance: 490 (1.25% above) and 495 (2.3% above).
  • Among major indices, Germany’s DAX, France’s CAC, and the U.K.’s FTSE have retaken all their key moving
    averages.
  • Most of the 16 indices we track closed in the green. Seven indices are in a Confirmed Uptrend, six in an Uptrend Under Pressure, two in a Rally Attempt, and one in a Downtrend. The average distribution day count is currently at 4.5.
  • Actionable names in the Focus List include Swissquote ‘R’ (SQN.CH; SQN:SW), Inditex (IND.ES; ITX:SM),
    Recordati Indua. Chimica (REC.IT; REC:IM), GTT (GTT.FR; GTT:FP), Beiersdorf (Xet) (BEIX.DE; BEI:GR), Bae Systems (BA.GB; BA/:LN), Vat Group (VACN.CH; VACN:SW), Sanlorenzo (SANL.IT; SL:IM), Trigano (TRI.FR; TRI:FP), Nemetschek (Xet) (NEMX.DE; NEM:GR), and Saab B (SAAB.SE; SAABB:SS).

Won Europe Today

Posted on by Deepashree MC

Yesterday,

  • European markets had a mixed day with some of the leading indices reclaiming/finding support at their key moving averages. We recommend investors book profits in extended names and be cautious while adding any new risk.
  • The Stoxx 600 has reclaimed its 21-DMA and is testing resistance at January 2024 highs. Among other major
    indices, France’s CAC continues to find support at its 50-DMA while Germany’s DAX is testing resistance at
    December 2023 highs. The U.K.’s FTSE 100 ended flat and is gradually climbing towards its 50-DMA.
  • Among sectors, Technology stocks gained 1.7%, Chemical stocks gained 1.4%, while Basic Material, Insurance,
    and Utilities ended flat. Automobile stocks lost 0.8%.
  • Among the 16 indices that we track in Europe, Norway, Portugal, Spain, and Italy closed in the red. Spain recorded its fifth distribution day.
  • Actionable names in the Focus List include Universal Music Group (UNMG.NL; UMG:NA), GTT (GTT.FR; GTT:FP), Inditex (IND.ES; ITX:SM), Siegfried ‘R’ (SFZN.CH; SFZN:SW), Bae Systems (BA.GB; BA/:LN), Recordati Indua. Chimica (REC.IT; REC:IM), Nemetschek (Xet) (NEMX.DE; NEM:GR), Ypsomed Holding R (YPSN.CH; YPSN:SW), Trigano (TRI.FR; TRI:FP), Saab B (SAAB.SE; SAABB:SS), and Beiersdorf (Xet) (BEIX.DE; BEI:GR).

Won Global View

Posted on by Deepashree MC

The U.S. market is in a Confirmed Uptrend. The S&P 500 and Nasdaq gained 53bps and 19bps, respectively. Support for the indices continues to be their respective rising 10-DMA (4,828/15,243). The S&P 500 has no remaining overhead resistance, while the next resistance for the Nasdaq is ~3% higher at its December 2021 highs of ~15,900. The distribution day count stands at six and three, respectively, with one day expiring on each index after close today.

Won Europe Today

Posted on by Deepashree MC

Yesterday,

  • European markets ended in the green. The Stoxx 600 bounced off its 10-DMA and retook its 21-DMA. Strong
    earnings from ASML Holding and SAP aided tech stocks. Among sectors, Technology gained the most, while
    Telecommunications led the decline.
  • We recommend that investors add risk in stocks that are part of leading industry groups and are breaking out of proper bases with a strong and rising RS line.
  • The Stoxx 600 closed 1.18% higher. The index retook its 10- and 21-DMA. Support levels:50-DMA (1.6% below), 200-DMA (3.7% below), and 100-DMA (4% lower). Next levels of resistance: 21-DMA (0.6% above), 480 (0.6% above), 485 (1.6% above), 490 (2.7% above), and 495 (3.7% above).
  • Among major indices, Germany’s DAX and France’s CAC have found support at their 50-DMA and have retaken their 21-DMA. The U.K.’s FTSE was trading below all its key moving averages.
  • Most of the 16 indices we track closed in the green. The Netherlands advanced the most, up 2.43%. Five indices
    are in a Confirmed Uptrend, eight in an Uptrend Under Pressure, one in a Downtrend, and two in a Rally Attempt.
  • Actionable names in the Focus List include Universal Music Group (UNMG.NL; UMG:NA), GTT (GTT.FR; GTT:FP), Inditex (IND.ES; ITX:SM), Siegfried ‘R’ (SFZN.CH; SFZN:SW), Bae Systems (BA.GB; BA/:LN), Recordati Indua. Chimica (REC.IT; REC:IM), Nemetschek (Xet) (NEMX.DE; NEM:GR), Ypsomed Holding R (YPSN.CH; YPSN:SW), Trigano (TRI.FR; TRI:FP), Saab B (SAAB.SE; SAABB:SS), and Beiersdorf (Xet) (BEIX.DE; BEI:GR).

Won Global View

Posted on by Deepashree MC

The U.S. market is in a Confirmed Uptrend. The S&P 500 gained marginally, while the Nasdaq closed ~40bps higher yesterday, albeit both indices closed at the lows of the day. Support for the indices continues to be their respective rising 10-DMA (4,814/15,184). The S&P 500 has no remaining overhead resistance, while the next resistance for the Nasdaq is ~3% higher at its December 2021 highs of ~15,900. The distribution day count stands at six and three, respectively, with one day expiring on each index tomorrow after close.

Won Europe Today

Posted on by Deepashree MC

Yesterday,

  • European markets had a weak session, with many indices recording a distribution day. We recommend that
    investors book profits in extended names as we are witnessing clustering of distribution days across indices.
  • The Stoxx 600 was down ~0.3% on high volume, recording its fifth distribution day. Among other major indices,
    France’s CAC 40 was testing support at its 50-DMA, while Germany’s DAX tested support at its 21-DMA. The
    U.K.’s FTSE 100 closed flat and remains in a Rally Attempt.
  • Among sectors, Basic Resources gained 2% and Oil & Gas rose 0.5%. Defensives like Food & Beverage and
    Health Care lagged. Utility gained 0.8%.
  • Among the 16 indices that we track, Italy, Switzerland, Spain, Portugal, France, the Stoxx 600, and Denmark
    recorded a distribution day each. Belgium was shifted to a Rally Attempt after the index held its recent lows for the
    third consecutive day.
  • Actionable names in the Focus List include Universal Music Group (UNMG.NL; UMG:NA), Inditex (IND.ES; ITX:SM),
    ASM International (ASIN.NL; ASM:NA), Siegfried ‘R’ (SFZN.CH; SFZN:SW), Bae Systems (BA.GB; BA/:LN),
    Recordati Indua. Chimica (REC.IT; REC:IM), Tbc Bank Group (TBCG.GB; TBCG:LN), Nemetschek (Xet)
    (NEMX.DE; NEM:GR), Ypsomed Holding R (YPSN.CH; YPSN:SW), Trigano (TRI.FR; TRI:FP), Saab B (SAAB.SE;
    SAABB:SS), and Beiersdorf (Xet) (BEIX.DE; BEI:GR).

Won Global View

Posted on by Deepashree MC

The U.S. market is in a Confirmed Uptrend. The S&P 500 and Nasdaq gained 29–43bps yesterday, with the S&P 500 continuing to
make new all-time highs. Support for the indices continues to be their respective rising 10-DMA (4,801/15,118). The S&P 500 has no
remaining overhead resistance, while the next resistance for the Nasdaq is ~3% higher at its December 2021 highs of ~15,900. The
distribution day count stands at six and three, respectively.