ETFWorld.co.uk

Technical Analysis: ISE National 30 : a flag is in formation

TURCHIA 1-

The ISE National 30 Index comprises the thirty most important stocks listed on the Istanbul Stock Exchange. In the medium-term, the Index shows a bullish trend as evidenced by the orientation of the 200-day moving average. However, the bearish correction initiated following the entry of a new historical high at 91 250 points in November 2010 proved to be relatively deep and could therefore question the underlying dynamics. Similarly, the breaking of the 200-day moving average, which previously supported the prices, tends to adopt one to some caution about the configuration of the Index. We’re neutral in the medium-term....


Sign up for our weekly Newsletter and receive the latest ETF and ETC news.
Click here to register for your free copy


 

Day By Day – Indipendent Research


04042011 1


 

Close price 80111,66

2 months Opinion NEUTRAL
2 weeks Opinion POSITIVE

Resistances 82896 / 85980 pts
Supports 76726 / 74537 pts

Anticipation  : More recently, the decline in prices was halted once it came into contact with the support at 70 920 points; after two waves of equal bearish magnitudes (purple arrows). A V-Bottom pattern has been formed, which justifies a reversal in the short-term. The resulting reaction led to the reintegrationof the major level at 74 537 points, and the Index is now consolidating above the support at 76 726 points, forming a flag pattern. A triggering of this continuation pattern should give rise to a strong bullish dynamic.We are positive in the short- term and look for a rally towards the resistance at 85 980 points (theoretical target of the flag pattern), with an intermediate target of 82 896. We set the invalidation threshold of this positive opinion slightly below the support at 76,726 points.

Traker’s Name Leverage Expense ratio
EasyETF DJ Turkey Titans 20 (EUR) x1 0,65%
iShares MSCI Turkey x1 0,74%
Lyxor ETF Turkey x1 0,65%

* A leverage of 1 means that the ETF/Tracker has the same performance as the underlying index. A leverage of 2 indicates that the ETF/Tracker will have twice the performance of the underlying index. A leverage of -1 indicates that the ETF/Tracker will perform opposite that of the index: it will rise while the index falls, and vice versa.


DISCAIMER

This publication is solely intended as information and does not constitute any investment advice or an offer, solicitation or recommendation to acquire or dispose of any investment or to engage in any transaction. Althoughthis publicationis issued in good faith, no representation or warranty, express or implied, is or willbe made and no responsibility or liability is or willbe accepted by NYSE Euronext or by any of its officers, employees or agents in relation to the accuracy or completeness of this publicationand any such liability is expressly disclaimed.No information set out or referred to in this publicationshall form the basis of any contract. The creation of rights and obligations in respect of financial products that are traded on the exchanges operated by NYSE Euronext’s subsidiaries shall depend solely on the applicable rules of the market operator. NYSE Euronext encourages you to reach your own opinion as to whether investments are appropriate or relevant and recommends you not to make any decisions on the basis of the information contained in this publication before checking it, as you will bear full responsibility for any use that you make of it. Persons wishingto trade products available on NYSE Euronextmarkets or wishingto offer such products to third parties are advised, before doing so, to check their legal and regulatory position in the relevant territory and to understand the related risks. All proprietary rights and interest in or connected with this publicationare vested in NYSE Euronext.No part of it may be redistributed or reproduced in any form or by any means or used to make any derivative work (such as translation, transformation, or adaptation) without the prior written permission of NYSE Euronext. NYSE Euronext refers to NYSE Euronext and its affiliates and references to NYSE Euronext in this publication include each and any such company as the context dictates. NYSE EuronextSM, Euronext®, trackers®, are registered marks of NYSE Euronext.

Source: ETFWorld – Day By Day – Indipendent Research

 

 

Related Articles

Soybean : US – China trade negotiations support prices higher

Webmaster

Cerulli Associates: Demand for ETFs is Broadening

Webmaster

Tabula: Investors set to increase exposure to fixed income ETFs

Webmaster