Fondul Proprietatea (FP) Technical Analysis 2012.02.07

Monday session closed relatively well, after in the first part, the sellers tested the upper limit of the support area (0.5077 RON level).

Further on, the price direction is uncertain because of the 0.5360-0.5650 RON resistance area strong influence. The strong sentiment of optimism seems to have diminished but, as it was specified in the previous analysis (http://markettechnicalview.blogspot.com/2012/02/fondul-proprietatea-fp-technical.html), an eventual broke of the support area will create a broader correction outlook, with target/support in the 0.4550-0.4650 RON area.

S&P 500 Technical Analysis bullish channel

S&P 500 index is still evolving in bullish channel and the good NFP report of Friday lead to the market surge up to the T2 resistance line.

Further on, all the traders seem to be focused on the Greek debt plans talks and an eventual more clear statement will definitely move the market.

The most important support zone for the future days is between the $1,322-1,328 levels, immediately followed by the T1 trend line.

Bank Of America is on its way to $8.40 target

The previous analysis of Bank of America (http://markettechnicalview.blogspot.com/2012/02/bank-of-america-still-aims-for-840.html) pointed towards the uptrend resuming, heading for the $8.40 target.

The $7.40 temporary resistance was broken by the bulls and it represents now the firs support. Friday’s session closed near $8.00 level which is a psychological one and could involve many transactions.

The main focus of these days is at Greek debt discussions. The lack of news will probably make investors to worry and mark some profits.  

BET-FI Technical Analysis 2012.02.06

The BET-FI Index broke the 22.700-23.000 resistance area last week due to the optimistic sentiment in the market and good reports from U.S.A.

The 22.700-23.000 area became thus the first support area which, if will be broken, it will create the broader correction perspective. The next resistance area is given by the 24.500-25.000 levels and the investors behavior close to it will indicate the short-term  or even mid-term market direction.  

SIF Moldova (SIF2) Technical Analysis 2012.02.06

SIF2 shares price is near the highs of 30^th of March 2011, in the 1.5000 RON area.

Friday’s session confirmed the support function of the 1.4000 RON level which still remains a key level for the price action.  

SIF Moldova is among the SIFs outperformers in the last 4 months, managing to recover all 2011 year decline. A mid-term correction (at least several weeks) will be signaled in case that the price will decrease below 1.3500-1.4000 RON support area.

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.  

Transgaz Medias (TGN) Technical Analysis 2012.02.06

Transgaz Medias shares price evolves in the mid-term (since August), in an ascending channel bounded by T1 and T2 trend line.

The 245.00 RON area represents a resistance, at least temporary, which may attract the attention of some sellers. Highs from 248.00 RON level represents the first resistance for the next session (from Monday). The most important support zone is between the levels of 225.00 and 229.00 RON. The daily support is given by 240.00 RON level and it can be taken as reference level for an eventual sale (stop loss or take profit).

The trend remains upward but, technically speaking, the price is close to some resistance levels (T2 trend line, 245.00 RON level) and the chances for a correction are high.