Fondul Proprietatea (FP) Technical Analysis 2012.03.01

The FP shares price has almost reached the target of 0.6000 RON after the end of Wednesday's session marked an increase of over 5.00%.

The yesterday increase sets the first support at the level of 0.5670 RON and the first resistance is given by the 0,6000 RON target. In case of a broader correction, the first signal will come when the price will drop below the T1 trend line (the lower limit of the ascending channel).

DAX Technical Analysis 2012.02.28

The bearish signs are still on the chart of the DAX Index but it seems the bulls are still strong below the support level of 6.800, even though the mid-term bullish channel was breached twice.

On the short term (a few days) we could see a new high that will bring prices back in the channel. The double bottom pattern has a target of 7.000, which is a psychological level.

Hewlett-Packard (HPQ) target: $25.00. 2012.02.28

The previous analysis on HPQ ( http://markettechnicalview.blogspot.com/2012/02/hewlett-packard-hpq-bullish-channel.html ) showed a bearish break of the T1 trend line and the high probability of the price to travel towards previous lows for the next days (even weeks).

T1 trend line represents now the firs resistance and the first target is set by the late December lows, in the $25.00 area.

Bank Of America (BAC) - strong support at $7.65. 2012.02.28

The previous analysis of Bank of America ( http://markettechnicalview.blogspot.com/2012/02/bank-of-america-bullish-engulfing.html ) pointed out a few arguments that can lead to achieving the $8.40 target in the next period.

Today, the $7.65 support proves stronger and the volumes show the interest in this stock at the support level. If nothing major will appear that could lead to a sell-off, the price can get rather quickly above $8.40 target.

SIF Moldova (SIF2) Technical Analysis 2012.02.28

The SIF2 shares price swings in the 2011 highs area, the balance point from the last weeks being at the 1.4500 RON level.

On mid-term, the T1 trend line characterizes the uptrend and, along with the 1.4000 RON horizontal level, form a strong support for the price.

An eventual break of the T1 trend line will activate the next immediate support from the 1.3500 RON level but the chances for an ampler correction in this context will increase.

SIF Banat-Crisana (SIF1) Technical Analysis 2012.02.28

The decline from the previous session led to the transformation of the 1.2245 RON level in the first resistance for SIF1 shares.

Further are two possible scenarios:

1.    1. In case that the price consolidates around the 1.2245 RON value for the next days, the price can move relatively quickly towards the 1.3000 RON target and the last two weeks period will represents only a lateral correction.
2.    2. A decline of international markets will also influence the investors from Romania and SIF shares will suffer, most likely, a zig-zag type correction, which can lead the prices by 1.0770 RON area.

The declining volumes since the highs day (14 Feb.) of the last period shows the decreasing interest of investors, which corresponds at this moment to both an ongoing lateral correction and to a first zig-zag type correction, ampler.  

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%).