Stoxx Europe 600

SXXP
Delayed Switzerland - 11/11 05:50:00 pm
405.34EUR
-0.02%

Close to an acceleration of prices

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10/23/2019 | 09:30 am
Opinion : Bullish above 377 
Target price : 394 
Driven by hopes of negotiations on Brexit, the Stoxx Europe 600, which brings together stocks from 17 countries, has been gaining since the beginning of October (+0.Among the winning courses, Pandora “s +20% during the same reference period and CYBG (+26%), both revalued by brokers. On the other hand, emblematic files close the way for this month of October, such as Hugo Boss (-23%), Thales (-19.5%), Thales (-19.5%),  after previous publications, then Wirecard (-19%) and its endless series  of suspected accounting fraud. Graphically, in daily data, prices return to the highest annual highs, at 394 points. Admittedly, the moving averages, by their horizontal orientation, confirm the broad consolidation trend under this upper bound. Ideally, a break, validated by a pull back, would be needed to restore a real strength to the European index. It will therefore be necessary to monitor the next overrun, encouraging investors to position themselves for the purchase. Only a decline below 377 points would weaken the current configuration.
Patrick Rejaunier
Zonebourse.com 2019
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