Delayed Nasdaq - 10/18 11:15:59 pm

Resilience in a difficult environment

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10/08/2019 | 10:07 am
Opinion : Check out the trading range breakout 7415 / 7917 
Over the past week, the main global indices have deteriorated, responding to concerns about global growth, following the publication of several disappointing statistics. On the other hand, technology stocks did not suffer too much, due to their less significant industrial exposure. Thus, the Nasdaq stagnates but does not weaken (+0.53% since  October 1st). The Charter Communication telecom company posted the strongest increase (+6%). For its part, Nvidia’s share price (5.9%) has been boosted by several analyst ratings.In contrast, the airline sector was affected by Delta Airlines’s statement that its costs (excluding hydrocarbons) would be much higher than expected. In response, United Airlines and American Airlines lost -3.4% and -3.6% respectively over the period. Graphically, on a daily basis, the index remains close to its moving averages and has been rising for several months in a broad trend between 7415 and 7917 points. The oscillations should continue in this range and only the breakage of the 7415-point support would degrade the configuration to target a target lower than 7000 points, so the stakes are high!
Alexis Colardelle 2019
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