Author: Deepashree MC

Won Europe Today

Posted on by Deepashree MC

On Friday,

  • European markets closed higher, marking their strongest weekly gain in 12 weeks, amid optimism over a potential Russia-Ukraine ceasefire that could see Russia retain seized territories. Banking stocks led the rally, fueled by robust earnings and a relatively lower tariff-related risks.
  • The Stoxx 600 closed 0.2% higher, marking its second consecutive day of gains. The index retook its 21- and 50-DMA in the last two sessions. Near-term resistance is at its July 29 high. We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key resistance levels.
  • Among sectors, Mining (+177bps) and Banking (+135bps) led the gains, while Travel and Leisure (-92bps) and Utility (-79bps) lagged the most.
  • Among major indices, France’s CAC 40 bounced off 0.4% after finding support at its 100-DMA and reclaimed its 50-DMA. Next resistance is at its 21-DMA. Germany’s DAX 30 closed 0.2% lower and is testing support at its 21-DMA. Next support is at its flattish 10- and 50-DMA. The U.K.’s FTSE 100 closed the session flat, slightly below its 10-DMA. The index is testing support at its 21-DMA.
  • Denmark and the Netherlands recorded Day 2 of their rally attempt.
  • Thirteen of the 16 indices we track closed in the green. Four are in a Confirmed Uptrend, six in a Rally Attempt, four in an Uptrend Under Pressure, and two in a Downtrend. 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 Nasdaq closed just below all-time highs (21,457), which would have been
the trigger to shift the market back into a Confirmed Uptrend. Last Friday, the S&P 500 and Nasdaq rose 79bps and 98bps, respectively.
The S&P 500 still has minor resistance at prior highs (6,339). Indices have support at their 10-DMA (6,340/21,101), followed by their 21-
DMA (6,307/20,924). The distribution day count stands at four and one, respectively, after one distribution day expired on each index at
Friday’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 Hermes (RMS.FR; RMS:FP), Hennes & Mauritz (HMBF.SE; HMB:SS), Lifco B (LIFC.SE; LIFCOB:SS), Castellum (CAST.SE; CAST:SS), and Inditex (IND.ES; ITX:SM).

Won Global View

Posted on by Deepashree MC

The U.S. market remains in an Uptrend Under Pressure. The S&P 500 declined 8bps on lower d/d volume, while the Nasdaq rose
35bps on higher d/d volume. Support is at their 10-DMA (6,327/21,044), followed by their 21-DMA (6,298/20,872). The distribution day
count stands at five and two, respectively, with one day expiring on each index today, after the close

Won Europe Today

Posted on by Deepashree MC

Yesterday,

  • European markets pared their early gains and ended the day flat, led by a sharp selloff in healthcare stocks. The sector fell 2.8%, its steepest decline in more than three months. The decline was on the U.S. President’s proposal for steep tariffs on pharmaceutical imports, which could rise to 250% over the next 18 months.
  • Among key movers on the Stoxx 600, shares of Novo Nordisk (NON.DK; NOVOB:DC) fell 5.4% after the company issued a warning about the ongoing competition from generic versions of its obesity medication Wegovy. Meanwhile, shares of Bayer (BAYN.DE; BAYN:GR) fell 9.9% after investors expressed concern that football transfer deals, rather than the robust outcomes from its primary healthcare and agriculture businesses, were driving the company’s earnings.
  • The Stoxx 600 ended the session flat. Immediate support is at its 100-DMA (-0.5%), followed by its recent low (-1.1%). We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
  • Among sectors, Oil & Gas (+130bps), Banks (+115bps), and Financial Services (+99bps) were the top gainers. Health Care (-282bps), Chemicals (-58bps), and Retail (-41bps) lagged the most.
  • Among major indices, France’s CAC rose 0.2% and continued to test resistance at the 10-DMA. Support is at its recent low (-1.5%). Germany’s DAX closed 0.3% higher. It also tested resistance at its 10-DMA. Next resistance is at its 21-DMA (+0.8%). The U.K.’s FTSE continued to trade above all its key moving averages and closed 0.3% higher, at an all-time high.
  • Ten of the 16 markets we track closed in the green. Four are in a Confirmed Uptrend, four in an Uptrend Under Pressure, six in a Rally Attempt, and two in a Downtrend.
  • Germany, Ireland, and Finland were shifted to a Rally Attempt from a Downtrend. Denmark was shifted to a Downtrend from a Rally Attempt after the index hit a new low.
  • All 25 European Focus List names are trading above their 200-DMA, while19 names are trading above their 50-DMA.
  • Actionable names in the Focus List include 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 an Uptrend Under Pressure. The S&P 500 and Nasdaq bounced off their 21-DMA and gained 73bps and
121bps, respectively, on higher d/d volume. Support is at their 10-DMA (6,325/21,000), followed by their 21-DMA (6,294/20,834). The
distribution day count stands at five and two, respectively, with one expiring on each index tomorrow after market close.

Won Europe Today

Posted on by Deepashree MC

Yesterday,

  • European markets closed higher, led by robust corporate earnings and mounting expectations of a U.S. interest rate cut as early as next month. Investors were surprised by positive earnings amid ongoing trade tensions, while expectations of a quicker easing of Fed policy have been reinforced by softer U.S. jobs data. Analysts have also raised their Q2 earnings projections in response to recent developments in the EU-U.S. trade negotiations.
  • Among key movers on the Stoxx 600, shares of Smith & Nephew (SN.GB; SN/:LN) surged ~15% after H1 revenue and profit beat estimates. The company also announced a $500M share buyback program, to be completed by the year-end.
  • The Stoxx 600 ended the session 0.1% higher. Immediate resistance is at its 50-DMA (+0.7%), followed by its 21-DMA (+0.9%). We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
  • Among sectors, Automobiles & Parts (+121bps), Food & Beverage (+112bps), and Chemicals (+84bps) were the top gainers. Utility (-33bps) and Banks (-31bps) were the sole decliners.
  • Among major indices, France’s CAC declined 0.1% and tested resistance at the 10-DMA. Support is at its recent low (-1.7%). Germany’s DAX closed 0.3% higher after testing resistance at its 50-DMA. Next resistance is at its 21-DMA (+1.1%). The U.K.’s FTSE continued to trade above all its key moving averages and closed 0.1% higher, at an all-time high.
  • Twelve of the 16 markets we track closed in the green. Four are in a Confirmed Uptrend, four in an Uptrend Under Pressure, four in a Rally Attempt, and four in a Downtrend.
  • Of the 27 European Focus List names, 25 ideas are trading above their 200-DMA, while 20 names are trading above their 50-DMA.
  • Actionable names in the Focus List include Talanx (TLXX.DE; TLX:GR), Alk-Abello B (ALK.DK; ALKB:DC), and Lottomatica (LOTG.IT; LTMC:IM).

Won Global View

Posted on by Deepashree MC

The U.S. market remains in an Uptrend Under Pressure. The S&P 500 and Nasdaq were down 49bps and 65bps, respectively, on
higher d/d volume, registering a distribution day each. Support is near their 21-DMA (6,288/20,800), followed by their rising 50-DMA
(6,148/20,173). The distribution day count stands at five and two, respectively, after one expired on the Nasdaq yesterday after the close.

Won Global View

Posted on by Deepashree MC

The U.S. market remains in an Uptrend Under Pressure. Indices posted strong gains yesterday, with the S&P 500 and Nasdaq gaining
147bps and 195bps, respectively. Both indices are back above their short-term moving averages. Support is near their 21-DMA
(6,287/20,789), followed by their rising 50-DMA (6,139/20,133). The distribution day count stands at four and two, respectively.

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, European indices pulled back from their recent 52-week highs. The U.K. (-0.4%) and Spain (-0.8%) outperformed, while Denmark fell 18% amid weakness in the Health Care sector. Only five markets, including the U.K., remain above their 50-DMA. France breached both its 50- and 200-DMA, while Germany, Italy, Ireland, Finland, Norway, and the Netherlands fell below their 50-DMA. Switzerland continues to face resistance at this level.
  • All sectors ended the week in negative territory. Energy (-0.1%) and Utility (-0.7%) registered the smallest losses, while Health Care, Transportation, Basic Material, and Consumer Cyclical led the decline, with losses of 4–6%. The remaining sectors fell 1.0–2.5%.