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Technical Analysis: S&P/TSX 60 : rebound off the support

CANADA 1

The S&P/TSX 60 consists of sixty most important stocks ​​of the Toronto Stock Exchange (TSX). It presents, in the medium-term, a clearly bullish trend as evidenced by the orientation of the 50-daymoving average.The inclusion of ascending peaks confirms the sense of the dynamics. ...


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Day By Day – Indipendent Research


14032011 1


 

Close price 787.68

2 months Opinion BULLISH
2 weeks Opinion POSITIVE

Resistances 799,3 / 821,7 pts
Supports 777,5 / 742 pts

Anticipation  :
The Index has consolidated since its resistance at 821.70 points after a phase of being “overbought”.The speed of its rise, representedby the MACD indicator, has weakened, announcing a relaxation of the current trend. The underlying dynamic remains bullish and the correction is already relatively profound (a 38% retracement). The proximity of the support at 777.50 points, reinforced by the 50-day moving average, is expected to give rise to a technical rebound.
We are positive in the short-term, and envisioning a rallying towards the resistance at 799.30 points.
We set the invalidation threshold for this positive opinion slightly below the support at 777.50 points.

Traker’s Name Leverage Expense ratio
CS ETF (IE) on MSCI Canada x1 0,48%
Lyxor ETF Canada x1 0,45%

* 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.

 


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Source: ETFWorld – Day By Day – Indipendent Research

 

 

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