* Cotações com atraso superior a 15 minutos via Bats CHI-X Europe e NASDAQ Basic
24 Aug 2018
S&P500 remains close to its January highs. In the near-term, new attempts to break the January highs are possible. Daily technical indicators suggest some loss of momentum. We will look for signs that the index could move again towards its 50-day moving average (2799). MACD shows some signs of weakening…
Euro Stoxx 50:
Euro Stoxx 50 recovered, as expected, moving towards its 50-day moving average over last week. We see a move above 50-day moving average (3433) as possible in the short-term. This would, afterwards, target the 200-day moving average (3488). Deteriorating medium-term technical backdrop and inability of Euro Stoxx to move above 200-day moving average in June and July/August support our cautious attitude in the medium-term. We see risks of a move towards the March low (3262). A crossing of MACD would boost Euro Stoxx 50 recovery…
PSI20 remained close to the 200-moving average. We see an upward move towards 50-day moving average (5574) as possible in the short-term. Medium-term technical indicators deteriorated. We still see risks of a retracement towards the low of May 2018 (5351) and the low of Feb 2018 (5249). The strong drop between 13-15th August, after having failed to break the gap of 5614- 5690, supports our cautious opinion. RSI has been in a downward trend…
Bovespa reached the targeted retracement level of 75430 and found support near the 50-day moving average. As the short-term technical backdrop has improved, we see as possible an upward move towards 200-day moving average (79296) in the short-term. RSI is at neutral level..
WTI found support at its 200-day moving average and moved upwards towards the 50-day moving average over the last week. We expect WTI to move upwards in the short term and we define a target interval at $69.85- $71.13. A break above that level could increase our confidence for the medium-term. WTI has been trading below 100-day moving average over the last 2 weeks, which is a new pattern not seen since mid-2017. We consider this as a negative sign. Hence, we remain cautious for the upcoming weeks and see risks of WTI moving below its 200-day moving average. Will MACD be able to move towards “zero”?
Gold is slightly below $1200, which we expect to be a resistance in the short-term. Considering the low level of short- and medium-term technical indicators, a stronger recovery is possible, with gold moving towards its 50-day moving average. The long-term setup remains challenging. We see risks of further retracement towards December 2016 low of $1123.
EUR/USD recovered last week, reaching defined targets at 1.1510$/€ and 1.1546$/€. We see a break above the 50-day moving-average as likely, and we define a short-term target at 1.1780$/€. EUR/USD has already retraced by more than 50% the upward move started in late 2016, and it is currently close to 2015 and 2016 highs. Therefore, a stronger rebound is possible. We define 1.1851$/€ and 1.1928$/€ as the next target levels. We expect MACD to push higher to “zero”.
Bovespa in USD terms
In USD terms, the Bovespa index is close to break its June lows as we type. The index remains below its 100- and 200 day moving averages. The recovery recorded in July met resistance near the 100-day moving average, suggesting that risks remain on the downside for the index
For further information, or to receive the PDF file, please contact +351 912 897 835 or firstname.lastname@example.org
The information and opinion contained in this report was prepared by PATRIS - SOCIEDADE CORRETORA, SA ("Patris"), which is part of the group of companies whose holding is PATRIS INVESTIMENTOS, SGPS, SA (Patris Group), listed in Alternext, which holds 100% of the share capital and voting rights of REAL VIDA SEGUROS SA which, in turn, holds 100% of the share capital and voting rights of Patris.
The information contained herein is based on publicly available data obtained from sources believed to be reliable and has not been subject to independent verification. To the extent permitted by applicable law, Patris does not expressly or impliedly guarantee the accuracy, completeness and / or correctness of such data, or any omission. This document, or part thereof, may not be (i) modified, (ii) transmitted or distributed or (iii) copied or duplicated by any means or means, without the prior written consent of Patris.
The analysts involved in the preparation of this report did not receive, receive and will not receive any compensation, direct or indirect, based on the information contained in this report.
PATRIS - SOCIEDADE CORRETORA, SA or another company of the Patris Group or its respective shareholders, management, and / or employees may carry out personal transactions on the securities referred to in this report, at any time and without prior notice.
Any opinion contained in this report may be outdated as a result of changes in market conditions, applicable laws and other factors. It should also be considered that the analyst may make changes to the estimates, assumptions and evaluation methodology used.
This report has been prepared for information purposes only, not taking into account the specific investment goals, financial situation and particular needs of any specific person who may receive the report. This report therefore has no specific recipient.
Patris is subject to high internal standards of behavior associated with the capital market, prepared on the basis of the applicable legislation of the Portuguese State and the European Union, which include rules to prevent and avoid conflicts of interest and barriers to the disclosure of information.
Investors should bear in mind that the rate of return on the securities identified in this report - if any reference is made to those returns - may vary and the price of such securities may rise or fall. Investors should thus be aware that they may receive less than initially invested. While this report may refer to the historical performance of securities, past performance is no guarantee of future performance. In addition, market conditions, applicable laws and other factors that have an effect on performance are all likely to change, with the consequent change in the information contained in this report. Patris or any other company of the Patris Group does not accept, to the extent permitted by applicable law, any liability, whether direct or indirect, resulting from losses that may arise due to the use of the information contained in this report.
Patris's activity is overseen by the Bank of Portugal and the Securities Market Commission.
The price of the securities referred to in this report refers to the closing price of the day indicated, except when expressly indicated, based on another form of quotation.
Deseja aceder ao conteúdo
completo desta notícia?