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, February 28, 2012

Fondul Proprietatea (FP) Technical Analysis 2012.02.28

The first session of this week brought for Fondul Proprietatea issuer the largest decline from BET and BET-FI index, at just two sessions away from the biggest increase from the same index.

Technically speaking, the FP shares price maintain within the mid-term ascending channel and its lower limit represents the first support.

The Fibonacci retracement levels from 2011 decrease were relevant in the recent weeks and it is expected to have the same function in the next days. In case that the price will drop below the uptrend, the first support will be given by the 0.5380 RON level (Fibonacci 50%).

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