Author: Deepashree MC

Won Europe Today

Posted on by Deepashree MC

On Friday,

  • European markets fell from their recent highs, despite some good earnings reports, due to weakness in major tech and financial shares. Investors were cautious as they awaited the outcome of the U.S.-Russia summit in Alaska, which could be crucial for advancing discussions on resolving the Ukraine conflict.
  • Among key movers on the Stoxx 600, shares of ASML (ASML.NL; ASML:NA) fell ~1% after Applied Materials (AMAT) lowered its Q4 outlook, citing lower Chinese demand and tariff uncertainty. Shares of Pandora (PND.DK; PNDORA:DC) fell 18.4% on indications of slowing European sales, while shares of NKT (NKT.DK; NKT:DC) rose 8.6% after the company raised its FY25 outlook.
  • Among sectors, Basic Resources (+92bps), Travel & Leisure (+74bps), and Health Care (+73bps) were the top gainers, while Technology (-51bps), Retail (-40bps), and Banks (-29bps) lagged the most.
  • Among major indices, France’s CAC gapped up and rose 0.7%. Next resistance is at its May high (+0.2%). Germany’s DAX closed 0.1% lower. It trades above all key moving averages and has next support at its 21-DMA (-1%). The U.K.’s FTSE fell 0.4% and tested support at its 21-DMA. Next support is at its 50-DMA (-2%).
  • Italy market was closed. Nine of the 15 open markets closed in the green. Six of the 16 markets we track are in a Confirmed Uptrend, three in an Uptrend Under Pressure, and seven in a Rally Attempt.
  • Italy was upgraded to a Confirmed Uptrend from a Rally Attempt after the index reclaimed its previous rally high.
  • All 28 European Focus List names are trading above their 200-DMA, while 21 names are trading above their 50-DMA.
  • Actionable names in the Focus List include Bawag (BWGP.AT; BG:AV), NatWest (NWG.GB; NWG:LN), Talanx (TLXX.DE; TLX:GR), and Lottomatica (LOTG.IT; LTMC:IM).

Won Global View

Posted on by Deepashree MC

The U.S. market remains in a Confirmed Uptrend. On Friday, the S&P 500 declined ~30bps on higher d/d volume, registering its sixth
distribution day, while the Nasdaq declined 0.4% on lower d/d volume. The first level of support is at the rising 10-DMA (6,391/21,397),
followed by the 21-DMA (6,359/21,194). The distribution day count stands at six and two, respectively, with one set to expire on the S&P
500 after today’s close.

Won Europe Today

Posted on by Deepashree MC

We released our Weekly Global Laggards Report today. Click here to access the full 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 K + S (SDFX.DE; SDF:GR), London Stock Exchange Group (LSEG.GB; LSEG:LN), Convatec Group (CTEC.GB; CTEC:LN), STMicroelectronics (STM.IT; STMMI:IM), and Cadeler (CADE.NO; CADLR:NO).

 

Won Global View

Posted on by Deepashree MC

The U.S. market remains in a Confirmed Uptrend. The S&P 500 rose 3bps on lower volume, while the Nasdaq closed slightly negative
on higher volume. The first level of support is at the rising 10-DMA (6,397/21,409), followed by the 21-DMA (6,349/21,149). The
distribution day count stands at five and two, respectively.

Won Europe Today

Posted on by Deepashree MC

Yesterday,

  • European markets closed higher, nearing a two-week peak, boosted by strong gains in Healthcare and Technology stocks. Sentiment improved on rising expectations of Fed rate cuts after U.S. inflation came in below forecasts.
  • The Stoxx 600 rose 0.5%, bouncing off its 21-DMA and retook the resistance of July 31 highs. Next resistance is at its July 28 highs. We recommend a selective approach to adding names with high volume on breakouts or decisive retake of key resistance levels.
  • Among significant movers on the Stoxx 600, shares of British insurance group, Beazley (BEZ.GB; BEZ:LN) declined ~12% after it trimmed its annual premium revenue growth guidance.
  • Among sectors, Healthcare (+156bps) and Technology (+121bps) were the strongest gainers while Energy (-141bps) and Travel and Leisure (-64bps) lagged the most.
  • Among major indices, France’s CAC 40 closed 0.6% higher marking its second consecutive day of gains. The index found strong support at its 21-DMA and is trading above all its key moving averages. Germany’s DAX 30 bounced off its 50-DMA and closed 0.7% higher. It reclaimed its 21-DMA support. The U.K.’s FTSE 100 closed higher for a third straight session and is trading constructively along its 10-DMA.
  • All of the 16 indices we track closed in the green. Five are in a Confirmed Uptrend, eight in a Rally Attempt, and three in an Uptrend Under Pressure. The average distribution day count stands at 2.67.
  • Of the 28 European Focus List names, 22 ideas are trading above their 50-DMA, and all are trading above their 200-DMA.
  • Actionable names in the European Focus List are Abb Ltd (ABBN.CH; ABBN:SW), Natwest Group (NWG.GB; NWG:LN), Talanx Aktgsf. (TLXX.DE; TLX:GR), Airbus (AIRS.FR; AIR:FP), Lottomatica Group (LOTG.IT; LTMC:IM), and Bawag Group (BWGP.AT; BG:AV).

Won Global View

Posted on by Deepashree MC

The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq advanced 32bps and 14bps, respectively, and closed at
new all-time highs. Support is at their 10-DMA (6,382/21,342), followed by their 21-DMA (6,337/21,093). The distribution day count stands
at five and two, respectively

Won Europe Today

Posted on by Deepashree MC

Yesterday,

  • European markets rebounded after the U.S. and China extended their tariff truce by 90 days, while U.S. inflation came in line with expectations. The data fueled expectations of a Federal Reserve rate cut in September.
  • The Stoxx 600 was up 0.2% after finding support at its 21-DMA. Near-term resistance is at its July 31 high. We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key resistance levels.
  • Among significant movers on the Stoxx 600, shares of German software players SAP (SAPX.DE; SAP:GR) and Nemetschek (NEMX.DE; NEM:GR) were down 7% and 11%, respectively, amid concerns of weakness in the technology segment due to artificial intelligence.
  • Among sectors, Energy (+156bps) and Travel and Leisure (+118bps) led the gains, while Technology (-211bps) and Financial Services (-85bps) lagged the most.
  • Among major indices, France’s CAC 40 closed 0.7% higher after finding support at its 100-DMA. The index reclaimed its 21- and 50-DMA. It is trending above all its key moving averages. Germany’s DAX 30 marked its third consecutive session of losses, closing 0.2% lower. The index has breached its 21-DMA and is testing support at its 50-DMA.The U.K.’s FTSE 100 rallied for a second consecutive day, closing 0.2% higher. It is trading above all its key support levels.
  • Italy was shifted to a Confirmed Uptrend from an Uptrend Under Pressure as the index reclaimed its previous rally high.
  • Thirteen of the 16 indices we track closed in the green. Five are in a Confirmed Uptrend, eight in a Rally Attempt, and three in an Uptrend Under Pressure. The average distribution day count stands at 2.4.
  • All the 28 European Focus List names are trading above their 200-DMA, while 21 ideas are trading above their 50-DMA.
  • Actionable names in the European Focus List are Abb (ABBN.CH; ABBN:SW), Natwest Group (NWG.GB; NWG:LN), Talanx (TLXX.DE; TLX:GR), Airbus (AIRS.FR; AIR:FP), Lottomatica (LOTG.IT; LTMC:IM), and Bawag (BWGP.AT; BG:AV).

Won Global View

Posted on by Deepashree MC

The U.S. market has shifted to a Confirmed Uptrend. The S&P 500 and Nasdaq advanced 1.1% and 1.4%, respectively, to all-time
highs. Support is at their 10-DMA (6,363/21,260), followed by their 21-DMA (6,325/21,031). The distribution day count stands at five and
two, respectively.

Won Europe Today

Posted on by Deepashree MC

Yesterday,

  • European markets closed lower as investors remained cautious ahead of a busy week of key tariff negotiations and U.S.-Russia talks on the Ukraine war.
  • The Stoxx 600 closed the session flat. The index continues to test support at its 21-DMA. Near-term support is at its 50-DMA. We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key resistance levels.
  • Among significant movers on the Stoxx 600, shares of Denmark-based wind energy maker Oersted (DEN.DK; ORSTED:DC) fell ~29% after the company announced a $60B crown rights issue.
  • Among sectors, Telecommunication (+100bps) and Banks (+77bps) led the gains, while Chemicals (-115bps) and Travel and Leisure (-77bps) lagged the most.
  • Among major indices, France’s CAC 40 declined almost 0.6% after hitting resistance at its 21-DMA and closed below its 50-DMA. It is testing support at its converging 10- and 100-DMA.Germany’s DAX 30 closed 0.3% lower and breached its 21-DMA. It is testing support at its flattish 10- and 50-DMA. The U.K.’s FTSE 100 advanced 0.3% and reclaimed its 10-DMA after finding support at its 21-DMA. It is trading above all its key moving averages.
  • Sweden recorded its fifth distribution day.
  • Denmark and the Netherlands were shifted to a Rally Attempt from a Downtrend after the indices recorded Day 3 of their rally attempt.
  • Eleven of the 16 indices we track closed in the red. Four are in a Confirmed Uptrend, eight in a Rally Attempt, and four are in an Uptrend Under Pressure. The average distribution day count stands at 2.4.
  • All the 25 European Focus List names are trading above their 200-DMA, while 18 ideas are trading above their 50-DMA.
  • Actionable names in the European Focus List are Lottomatica (LOTG.IT; LTMC:IM) and Bawag (BWGP.AT; BG:AV).

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 25bps and 30bps, respectively, on higher
d/d volume, recording a distribution day each. Support is at their 10-DMA (6,345/21,167), followed by their 21-DMA (6,313/20,966). The
distribution day count increased to five and two, respectively.