Market Technical View is a blog that mostly concerns the technical analysis of different financial instruments like indices, commodities, stocks, ETFs and currencies.

All the posts are structured in 3 main chapters that can be found in Content, in the upper right-hand corner of the blog.

Market perspective. The technical approach consists of chart patterns and important support/resistance zones. The purpose of this section is to give directions of the price on short and medium term (a few days up to a few months).

Trading setups. The analysis posted here will provide trading scenarios based on different technical tools.

Romanian Market. This is a section dedicated to Romanian stocks and indices.

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Tuesday, January 31, 2012

SIF Muntenia (SIF4) Technical Analysis 2012.01.31

A sell signal was given by SIF Muntenia (SIF4) shares on Friday ( ) to make a profit of 9.0%, on the buying signal on January 12 (  ).
Further on, the mid-term (several months) price action indicates an bullish channel and the main support area is between 0,6000 and 0,6215 RON levels.

First resistance is given by the 50% Fibonacci retracement of the last year decline, at 0,6690 RON level. Increasing volumes from January attest the growth veracity and a successful test of 0.6000-0.6215 area as support will create new buying opportunities. 

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