STOXX EUROPE 600

SXXP
Real-time Estimate Quote. Real-time Estimate  - 10/23 02:01:00 pm
363.47PTS +0.89%

The 393-point wall is difficult to cross

Mid-term Analysis published on 09/25/2019 | 07:44am
The European Largium Index (without dividend reinvested) has just entered a consolidation phase after testing recent higher levels.  As trade tensions intensify, profit taking is an obstacle to the 2019 performance, which nevertheless remains at 14%. 

Over the last sliding month, the index took 3.5%, incorporating excellent monthly performance, such as Umicore, which posted a 29% increase in value, Casino (+28%) and the British NMC Health (+27%). At the same time, sectors that have been badly treated for months have recovered, such as the automotive and banking sectors.


Graphically, in daily data,   the 393-point wall could not be crossed. The index came at the time of its last attempt to reach the level after a surge of 8%. A legitimate pause is therefore taking place. The downward target is located towards the convergence zone of the 50 and 100-day moving averages, currently around 382 points. A rapid recovery beyond the 393 points is needed to eliminate the downside risks, a scenario that is unlikely at this stage of the configuration
Patrick Rejaunier
© MarketScreener.com 2020
Copier lien
All news about STOXX EUROPE 600
3h ago
3h ago
15h ago
17h ago
20h ago