Banca Transilvania (TLV) Tehnical Analysis 2012.02.01

The previous analysis of Banca Transilvania company (http://markettechnicalview.blogspot.com/2012/01/banca-transilvania-tlv-tehnical.html ) showed the possibility of a price rise targeting at 0.9590 RON and 1.0000 RON.

After just a few days, TLV shares price broke the first target and it heads to the second. Daily support is now at 1.0000 RON/share (if the price will drop below it, this can be used as exit/sale signal) while the 0.9400-0.9590 RON area offers a stronger support for the next weeks.

BRD-Groupe Societe Generale (BRD) Technical Analysis 2012.02.01

The chances remains in favor of increasing BRD shares price, even if the buyers failed in the previous session to breach the highs from the beginning of the week (11.40 RON).

The first support level is at 11.00 RON and this provided its quality in the past sessions. The target area remains the same: between the levels of 12.00 RON and 12.20 RON. An eventual close below the support will signal an exit with a small loss.

SIF Oltenia (SIF5) Technical Analysis 2012.02.01

Share price of SIF Oltenia (SIF5) reached very close to the 50% Fibonacci retracement of April-October 2011 decline.

Although the investor sentiment is strongly positive in recent weeks, the 1.2500-1.3500 RON area represents a resistence zone for the price. Buying in this area provides an unsatisfactory risk/reward yield.  

Trend T1 line characterizes the upward movement from the last months and along with the horizontal level of 1.1500 RON creates a good support.

Crude Oil trend is up

Crude Oil (WTI) traded below T2 trend line for about a month and broke today above the resistance, setting though the market for further rise.

The previous analysis (http://markettechnicalview.blogspot.com/2012/01/crude-oil-wti-technical-analysis_24.html), in 24^th of January, stated that the $97.00-$98.40 area is a strong support and the January move seems to be just a correction a larger rising trend.

As the break-out above the trend line already happened, there is a high probability to see a retest of it as a support (like shown in the chart). The older target at $103.00 area is still in place and an intermediary target can be set at $102.00 level. 

S&P 500 follows bearish scenario

S&P Index traded yesterday mostly below $1,313 key level and the previous analysis (http://markettechnicalview.blogspot.com/2012/01/s-500-technical-analysis-20120130.html) still stands as T1 trend line is now acting as resistance.

The previous support zone, between the $1,310 and $1,313 levels is now current resistance and prices below 1,310 will confirm the bearish scenario.

If this scenario will turn out to be correct, the first support is in the $1,300 area (yesterday’s lows), followed by $1,250-$1,265 support area.

OMV Petrom (SNP) Technical Analysis 2012.01.31

The buying signal for OMV Petrom (SNP) shares on January 23 (http://markettechnicalview.blogspot.com/2012/01/analiza-tehnica-omv-petrom-snp-20120123.html) currently has a yield of about 8.0%.

The 0.3240-0.3440 RON resistance area remains very important for the future price evolution and at this moment it keeps its resistence function.

On very short term (intraday or within a few days) the lower limit of above mentionated area (0.3240 RON) represents the first support and a price decrease under this level will generate a sell signal. The first target/resistence is given by the upper limit of the current area, at 0.3446 RON level.

SIF Muntenia (SIF4) Technical Analysis 2012.01.31

A sell signal was given by SIF Muntenia (SIF4) shares on Friday (http://markettechnicalview.blogspot.com/2012/01/sif-muntenia-sif4-technical-analysis_27.html ) to make a profit of 9.0%, on the buying signal on January 12 (http://markettechnicalview.blogspot.com/2012/01/analiza-tehnica-sif-muntenia-sif4.html  ).

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.