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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Monday, February 6, 2012

Fondul Proprietatea (FP) Technical Analysis 2012.02.06

On the short-term (few weeks), the Fondul Proprietatea shares have kindled the investor’s interest and the resistance levels were, in turn, breached by the price.

The Friday’s session created a specific candle for a local high but, this signal is not sufficient for a sale because the investors sentiment remains optimistic. Only a decline below the 0.5000-0.5077 RON support area will create the premise of a significant correction, with the target in the next support area, between 0.4550-0.4650 RON levels.

The target area for the uptrend still stands between 0,5360 and 0.5650 RON levels but, a reversal may occur below this area too, thus signaling weakness on buyers behalf and the sellers intervention in the market.  

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