European Weekly Review 17 March 2015 By S Gale, Analyst |
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Close | Weekly Volume | Weekly Change | P&F Trend | Stop | |||||
Euro Stoxx | 379.78 | 10,215.6m | +10.56 | +2.9% | Bull | 16 Jan 2015 | 337.50 | ||
Euro Stoxx 50 | 3706.75 | 3,240.5m | +96.47 | +2.7% | Bull | 15 Jan 2015 | 3300.00 | ||
France CAC40 Index | 5061.16 | 614.2m | +123.96 | +2.5% | Bull | 16 Jan 2015 | 4100.00 | ||
Germany DAX Index | 12167.7 | 480.8m | +585.59 | +5.1% | Bull | 18 Nov 2014 | 11400.00 | ||
Netherlands AEX Index | 498.03 | 438.9m | +9.82 | +2.0% | Bull | 4 Dec 2014 | 405.00 | ||
Spain IBEX 35 Index | 11114.7 | 2,082.8m | +60.50 | +0.5% | Bull | 19 Jan 2015 | 10200.00 | ||
Sweden OMX Index | 1689.67 | 482.2m | +29.31 | +1.8% | Bull | 18 Nov 2014 | 1630.00 | ||
Switzerland SMI Index | 9237.08 | 228.5m | +190.20 | +2.1% | Bull | 26 Jan 2015 | 7850.00 | ||
Closing prices last 5 days |
The European Indices have rallied to new highs this week, with the DAX breaking the 12,000 level. The introduction of QE by the ECB and the continued strength of the US Dollar are the most prevalent causes.
The Euro continues to make new lows against the US Dollar, despite being deeply oversold. But now encounters support at 1.05 from its March 2003 levels. The next key level of support is 1.02 from its July and November 2002 highs.
The SX5E confirms its break of resistance at 3,500, with next major resistance at 3,900. We anticipate a 3,500-3,700 short term range.
The SXXE breaks resistance at 375, with next major resistance at 400.
The DAX breaks resistance at 12,000 and we now target 12,500. We anticipate a 11,750/12,500 range.
Our European breadth indicators remain at historic resistance levels. There are tentative signs of unwinding but this is not being reflected on the indices.
Autos, Chemicals and Personal & Household Goods make new price and relative highs.
Energy, Basic Resources and Utilities fall from the top of the price ranges and make new relative lows.
We open a long position in Geberit as it retests recent highs and finds relative support. We target 400 and place our stop at 320. (10th Mar)
We open a short position in Statoil as it encounters resistance at 150 and retests recent relative lows. We target 120 and place our stop at 150. (10th Mar)
We open a short position in Groupe Bruxelles Lambert as it encounters price resistance from previous highs and makes a new medium term relative low. We target 67 and place our stop at 78. (12th Mar)
We open a long position in SES Global as it reasserts its price uptrend and finds relative support. We target 38 and place our stop at 30.4. (12th Mar)
We close our long position (16.4%) in Den Danske Bank as it fails to make new price highs and makes a short term new relative low. (13th Mar)
We open a short position in Tenaris as it reasserts its downtrends and makes a new relative low. We target 10 and place our stop at 13.8. (13th Mar)
We close our short position in Sanofi as it makes a new short term price high and finds medium term relative support. (16th Mar)
Date | Stock | Code | Type | Open Price | Current Price | % P&L | Target | Stop |
17 Oct 2014 | Novo Nordisk -B | NOVOB | Long | 258.2 | 345.4 | +33.77% | 240 | |
21 Oct 2014 | PostNL NV | PNL | Long | 3.264 | 4.107 | +25.83% | 3 | |
6 Jan 2015 | Lagardere | MMB | Long | 21.42 | 26.9 | +25.58% | 20 | |
7 Jan 2015 | Allianz AG | ALV | Long | 134.75 | 159.95 | +18.70% | 124 | |
12 Jan 2015 | Bouygues | EN | Long | 30.58 | 37.305 | +21.99% | 28.75 | |
14 Jan 2015 | Casino Guichard | CO | Long | 76.5 | 84.6 | +10.59% | 71 | |
15 Jan 2015 | LVMH | MC | Long | 135.05 | 174.7 | +29.36% | 125 | |
19 Jan 2015 | Adidas-Salomon AG | ADS | Long | 58.81 | 72.24 | +22.84% | 53 | |
21 Jan 2015 | Telecom Italia | TIT | Long | 0.9635 | 1.141 | +18.42% | 0.9 | |
3 Feb 2015 | Saipem SpA | SPM | Long | 8.74 | 8.67 | -0.80% | 7.7 | |
4 Feb 2015 | KPN | KPN | Long | 2.847 | 3.05 | +7.13% | 2.5 | |
10 Feb 2015 | ASML Holding NV | ASML | Long | 89.55 | 101.55 | +13.40% | 79 | |
13 Feb 2015 | Deutsche Bank AG | DBK | Long | 28.35 | 30.915 | +9.05% | 25.5 | |
4 Mar 2015 | Infineon Technologies AG | IFX | Long | 10.495 | 11.305 | +7.72% | 9.7 | |
10 Mar 2015 | Geberit | GEBN | Long | 352.2 | 363.5 | +3.21% | 320 | |
12 Mar 2015 | SES Global | SESG | Long | 32.34 | 33.6 | +3.90% | 30.4 |
Shorts
Date | Stock | Code | Type | Open Price | Current Price | % P&L | Target | Stop |
6 Jan 2015 | DSM NV | DSM | Short | 48.285 | 52.05 | -7.80% | 52.5 | |
7 Jan 2015 | Air France | AF | Short | 7.728 | 7.214 | +6.65% | 8.6 | |
9 Jan 2015 | RWE | RWE | Short | 23.72 | 23.79 | -0.30% | 26 | |
6 Feb 2015 | ENI | ENI | Short | 15.56 | 15.24 | +2.06% | 16.7 | |
9 Feb 2015 | Swedish Match | SWMA | Short | 256 | 263.5 | -2.93% | 280 | |
18 Feb 2015 | Norsk Hydro | NHY | Short | 46.01 | 42.76 | +7.06% | 49 | |
25 Feb 2015 | Banco Santander Central Hispano SA | SAN | Short | 6.421 | 6.486 | -1.01% | 6.8 | |
25 Feb 2015 | Sandvik AB | SAND | Short | 93.4 | 94.6 | -1.28% | 98 | |
25 Feb 2015 | Vallourec | VK | Short | 21.42 | 20.92 | +2.33% | 24 | |
2 Mar 2015 | OMV AG | OMV | Short | 25.225 | 23.885 | +5.31% | 27 | |
3 Mar 2015 | Volvo | VOLVB | Short | 96.4 | 98.1 | -1.76% | 105 | |
10 Mar 2015 | Statoil | STL | Short | 138 | 132.4 | +4.06% | 150 | |
12 Mar 2015 | Groupe Bruxelles Lambert SA | GBLB | Short | 77.36 | 77.62 | -0.34% | 80 | |
13 Mar 2015 | Tenaris SA | TEN | Short | 12.69 | 12.62 | +0.55% | 13.8 |
Copyright 2015 by Stockcube Research Ltd.