Author: Deepashree MC

Won Europe Today

Posted on by Deepashree MC

On Friday,

  • European markets closed higher for the second consecutive week, supported by strong U.S. job data and fading concerns over trade friction. However, the European central bank President Christine Lagarde hinted that the rate-cutting cycle might soon end, making traders reconsider their hopes for more cuts. Meanwhile, investors are closely watching if the clash between Trump and Tesla CEO Elon Musk will affect the broader market.
  • Among key movers on the Stoxx 600, shares of Dassault Systèmes (DSY.FR; DSY:FP) declined 1.2% after the French software firm pushed its medium-term earnings target by a year. Meanwhile shares of Renk (R3NKX.DE; R3NK:GR) fell 6.2% afterExane BNP Paribas downgraded the stock to “underperform.”
  • The Stoxx 600 booked a gain of 0.3% and continued to trade above all its key moving averages. It has resistance at its March high (+1.5%). We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
  • Among sectors, Financial Services (+126bps), Oil & Gas (+90bps), and Health Care (+82bps) were the top gainers, while Basic Resources (-182bps), Telecommunications (-55bps), and Chemicals (-50bps) lagged the most.
  • Among major indices, France’s CAC 40 closed 0.2% higher and tested resistance at the confluence of its 21- and 100-DMA. It has immediate support at its 10-DMA (-0.2%), followed by its 50-DMA (-2.1%). Germany’s DAX 30 closed the session flat and continued to trade above all its key moving averages. Support is at its 10-DMA (-0.7%), followed by its 21-DMA (-1.4%). The U.K.’s FTSE 100 extended its positive momentum and advanced 0.3%. Immediate resistance is at its March high (+0.4%).
  • Sweden was closed on account of a national holiday. Twelve of the 15 open markets closed in the green. Eleven of the 16 markets we track are in a Confirmed Uptrend, two in an Uptrend Under Pressure, and three in a Rally Attempt.
  • All 23 European Focus List names are trading above their 50- and 200-DMA.
  • Actionable names in the Focus List include Adyen (ADYE.NL; ADYEN:NA), Alk-Abello B (ALK.DK; ALKB:DC), Bawag Group (BWGP.AT; BG:AV), Nemetschek (NEMX.DE; NEM:GR), Premier Foods (PFD.GB; PFD:LN), Sap (Xet) (SAPX.DE; SAP:GR), Safran (SGM.FR; SAF:FP), and Wise A (WISE.GB; WISE:LN).

Won Global View

Posted on by Deepashree MC

The U.S. market is in a Confirmed Uptrend. On Friday, the S&P 500 and Nasdaq gained 1.0% and 1.2%, respectively, approaching their
all-time highs (6,147; 20,204), now less than 3% away. The first level of support for the S&P 500 and Nasdaq is at their 10-DMA (5,934;
19,251). The distribution day count stands at four and three, respectively, with one day expiring on the S&P 500 tomorrow after market
close.

Won Global View

Posted on by Deepashree MC

The U.S. market is in a Confirmed Uptrend. The S&P 500 and Nasdaq declined 53bps and 83bps on higher d/d volume, respectively, and registered a distribution day. Support for indices is at their 10-DMA (5,919; 19,189), followed by their 21-DMA (5,850; 18,855). The distribution day count increased to four and three, respectively.

Won Europe Today

Posted on by Deepashree MC

Yesterday,

  • European stocks closed higher, lifted by Berlin’s approval of a €46B corporate tax relief package designed to revive economic growth. As the first major step by Germany’s new government, the move aims to prevent a third straight year of economic contraction. Meanwhile, investors remained cautious ahead of the European Central Bank’s interest rate decision due later today.
  • Among key movers on the Stoxx 600, shares of French semiconductor manufacturer STMicroelectronics (STM.FR; STMPA:FP) closed 11% higher after the company mentioned about witnessing signs of recovery.
  • The Stoxx 600 bounced off its 21-DMA and closed almost 0.5% higher. It has reclaimed its 10-DMA, with next resistance at its early March high. We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
  • Among sectors, Technology (+112bps) and Food and Beverage (+112bps) posted the strongest gains, while Energy (-108bps) and Automobile (-54bps) led the losses.
  • Among major indices, France’s CAC 40 extended its gains for a second session, closing 0.5% higher. It found support near its 50-DMA and reclaimed its 100-DMA. Germany’s DAX 30 traced back to its all-time high after finding support at its 21-DMA and advanced ~0.8%. It remains extended above all its moving averages. The U.K.’s FTSE 100 ended 0.1% higher and is consolidating near its 10-DMA.
  • Austria recorded its third distribution day, while Ireland, Portugal, and Spain logged in their fourth.
  • Twelve of the 16 indices we track closed in the green. Eleven are in a Confirmed Uptrend, three in a Rally Attempt, and two in an Uptrend Under Pressure. The average distribution day count stands at 3.7.
  • All the 21 European Focus List names are trading above their 200-DMA, while 20 ideas are trading above their 50-DMA.
  • Actionable names in the European Focus List are Bawag Group (BWGP.AT; BG:AV), 3i Group (III.GB; III:LN), Safran (SGM.FR; SAF:FP), Sap (SAPX.DE; SAP:GR), and Premier Foods (PFD.GB; PFD:LN).

Won Global View

Posted on by Deepashree MC

The U.S. market is in a Confirmed Uptrend. The S&P 500 closed flat after staging a downside reversal, while the Nasdaq ended the
session 32bps higher. Indices are 3–4% off highs, with support at their respective 21-DMA (5,841; 18,810). The distribution day count
remains at three and two, respectively.

Won Europe Today

Posted on by Deepashree MC

Yesterday,

  • European markets ended slightly higher, supported by softer-than-expected inflation data from the Eurozone for May. Inflation cooled to 1.9% from 2.2% in April, slipping below the European Central Bank’s 2% target and strengthening hopes for a rate cut in the policy meeting scheduled on Friday. The euro and European bond yields declined in response to the data.
  • Among key movers on the Stoxx 600, shares of Swiss asset management group UBS (UBSG.CH; UBSG:SW) were up more than 5% after receiving a rating upgrade from Jefferies.
  • The Stoxx 600 continued to test support at its 21-DMA and closed flat. Immediate resistance is at its 10-DMA, while the next support is at its 100-DMA. We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
  • Among sectors, Technology (+89bps) and Automobile (+75bps) led the gains, while Mining (-95bps) and Utility (-45bps) lagged the most.
  • Among major indices, France’s CAC 40 closed 0.3% higher after finding support at its 50-DMA, reversing losses from its earlier sessions. Near-term resistance is at its converging 21- and 100-DMA. Germany’s DAX 30 bounced off its 21-DMA and closed 0.7% higher. The index reclaimed its 10-DMA and is trading above all its key moving averages. The U.K.’s FTSE 100 ended marginally higher, closing slightly above its 10-DMA.
  • Ten of the 16 indices we track closed in the green. Eleven are in a Confirmed Uptrend, three in a Rally Attempt, and two in an Uptrend Under Pressure. The average distribution day count stands at 3.46.
  • All the 21 European Focus List names are trading above their 200-DMA, while 19 ideas are trading above their 50-DMA.
  • Actionable names in the European Focus List are Bawag Group (BWGP.AT; BG:AV), 3i Group (III.GB; III:LN), Games Workshop (GAW.GB; GAW:LN), Safran (SGM.FR; SAF:FP), Sap (SAPX.DE; SAP:GR), SPIE (SPIE.FR; SPIE:FP), and Premier Foods (PFD.GB; PFD:LN).

Won Global View

Posted on by Deepashree MC

The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq closed 58bps and 81bps higher, respectively. Indices are
3–4% off highs, with support at their 21-DMA (5,828; 18,746). The distribution day count remains at three and two, respectively.

Won Europe Today

Posted on by Deepashree MC

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

  • European markets rose in the previous week. The Stoxx 600 is in a Confirmed Uptrend and is finding support at its near-term moving averages. Most major indices are trading near their 52-week highs.
  • Capital Equipment, Consumer Cyclical, and Health Care led the sectoral gains, while Retail and Utility showed signs of weakness. Technology and Capital Equipment are showing positive short-term momentum on Rotation Chart.

Won Global View

Posted on by Deepashree MC

The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq closed 40bps and 67bps higher, respectively. Indices
rebounded from their 10-DMA (5,887/19,033) and had an upside reversal on lower volume. They are still testing resistance near
5,970/19,200 and have immediate support at their rising 21-DMA (5,814/18,680). The distribution day count remains at three and two,
respectively.