Fondul Proprietatea (FP) Technical Analysis 2012.01.31

FP (Fondul Proprietatea) shares price reached during in the past couple of sessions near to the level of 0,5000 RON/share and is recomanded to be cautious because we are under a resistance area (0.5000-0.5070 RON).

The most relevant support at this moment is the level of 0,4770 RON but the last session lows could be take into consider (0.4850 RON in this case).

Because the shares are traded close to a resistence and because of the last candle (which shows an indecision) who looks to a risk/reward ratio is unfavorable for an investor who follows a purchase. 

Wal-Mart share price is close to 2008 highs

Wal-Mart share price is getting close to 2008 highs ($63.20 area), forming a rising wedge pattern that usually states the end of a bullish move.

Although there has not been a selling signal yet, the investors should act carefully in this area, as the volumes seem to be descending while the price is rising.

The T1 trend line is the main support to watch and, along with the $58.90-$59.20 area can provide a good shorting opportunity if the brake-retest-continuation pattern will play along.

The main target is case of a reversal in this area is the $55.00 area. 

S&P 500 Technical Analysis 2012.01.30

The 60 min. chart of S&P Index (.US500.cfd in Dealbook) shows a bullish channel developing since the end of last year.

T1 trend line is acting as support and, along with the current support zone ($1,310-$1,313) is establishing a key zone that will give direction for the next days (even weeks).

The ideal bearish scenario will be the brake, retest and continuation pattern, establishing though the current support zone and the T1 line as the main resistance zone.

All the investors are focused on Greek debt talks and on bailout plan for Europe. These kind of news will motivate the traders to take decisions.

SIF Transilvania (SIF3) Technical Analysis 2012.01.30

On medium term (a few months) SIF Transilvania (SIF3) looks bullish, having higher highs and higher lows.

The current trading zone is a resistance area, due to previous important highs. The market is characterized by T1 trend line (as support) and 0.6100-0.6300 RON (as a resistance area). The break of the price in each direction will give further clues of direction for the next weeks and even months.

The daily support is at 0.5875 RON and this, combined with T1 trend line is giving a strong support for the price.

SIF Banat-Crisana (SIF1) Technical Analysis 2012.01.30

SIF Banat Crisana (SIF1) shares broke on Friday the 0,9380-0.9500 RON resistance zone, transforming it though in the first support zone.

The first target remains in the 1.0000-1.0700 RON and a retest of the support zone could happen in the next days, before the up trend will resume.

The longer market perspective shows a symmetrical triangle that broke its upper limit and set the prices to go higher. The low volumes during the consolidation pattern (triangle) and the previous market rally (started in early October) on good volumes provides a bullish scenario that will reach eventually the early April 2011 highs, in the 1,3000 RON area. 

Erste Group Bank (EBS) Technical Analysis 2012.01.30

The Erste Group Bank shares (EBS) had a strong rally in the past couple of weeks, managing to break above the key levels of 60.22 RON and 70.00 RON.

A large target zone of this current rising move is between the 88.00 and 113.15 Ron levels, set by the 38.2% and 61.8% Fibonacci retracement of the July-November decline.

The support zone is given by the past two key levels, between 60.22 and 70.00 RON and an eventual retest of it before making new highs is possible.

BET-FI Technical Analysis 2012.01.30

BET-FI Index achieved the early November target (http://www.goldring.ro/analiza-tehnica-bet-fi-2011.11.08.html) in the 21.500-22.800 area, projecting though a three wave pattern started in early October.

A longer time analysis shows that an important trend line (T1) that connects 2010 and 2011 highs was breached last week and this could have longer time bullish implications. However, the price is still facing some important resistance levels in the 22.800-23.000 area.

The current strategy will be to monitor the price action nearing the resistance levels and take precaution measures in case there will be a reversal here. The Greek debt issue and the whole bailout plan regarding Europe is still the main concern of investors.