Euronext PSI20 (PSI20.NDX)
Close: 6 592.89 (+77.42), Apr 23, 2024
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Liquidity risk: | Volatility risk: |
Short term
Euronext PSI20 has broken the rising trend up in the short term. This signals an even stronger growth rate. The price has risen strongly since the positive signal from the inverse head and shoulders formation at the break through resistance at 6332. The objective at 6566 is now met, but the formation still gives a signal in the same direction. The index is testing resistance at points 6600. This could give a negative reaction, but an upward breakthrough of points 6600 means a positive signal. The index is overall assessed as technically positive for the short term. Recommendation one to six weeks:
Medium term
Euronext PSI20 is in a rising trend channel in the medium long term. This shows that investors over time have bought the index at higher prices and indicates good development for the market. The moving average indicator has also given a positive signal. In isolation, this signals a continued rise, but the slowness of the indicator often means that one has lost much of the upside. The index is testing resistance at points 6600. This could give a negative reaction, but an upward breakthrough of points 6600 means a positive signal. RSI above 70 shows that the index has strong positive momentum in the short term. Investors have steadily paid more to buy the index, which indicates increasing optimism and that the price will continue to rise. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The index is overall assessed as technically positive for the medium long term. Recommendation one to six months:
Long term
Euronext PSI20 is in a rising trend channel in the long term. This shows that investors over time have bought the index at higher prices and indicates good development for the market. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the index has support at approximately 6300 points. The index is assessed as technically positive for the long term. Recommendation one to six quarters:
Period |
Vol.bal. |
Volatility |
Liquidity |
+/- % |
1 day | - | 0.65% | 0.00 | +1.19% |
5 days | 0.00 | 2.12% | 0.00 | +5.92% |
22 days | 0.00 | 5.11% | 0.00 | +7.16% |
66 days | 0.00 | 8.87% | 0.00 | +4.27% |
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