Stoxx Europe 600 : The euphoria persists

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04/02/2019 | 05:10 pm
At the beginning of the second quarter, the Stoxx Europe 600 index did not weaken. The extended index has gained 14% since the beginning of the year, ranking among the top European index scores. Monetary policy counterbalances the lackluster economic situation in Europe. The upward path appears to be the only possible path for prices.
Among the contributors to the positive trend, over the last five days, Galapagos on the Dutch stock market gained 24%, following increases in analysts. GVC Holdings, a betting operator, is on the podium with 14% performance over the same reference period, ahead of the German Nemetschek (construction software) with 13%.

Technically, in daily data, prices return to a major resistance at 386 points. The index behavior in this area will be carefully monitored by the operators. A fence beyond that would open a new target close to 392 points.

On the other hand, a failure on this first milestone could generate legitimate profit taking after the bullish rally. The next few days will therefore prepare the next step: either the continuation of the main movement or the establishment of a secondary consolidation movement.


Patrick Rejaunier
MarketScreener.com 2019
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