WAVES.ROM – ARE WE GOING UP?
It’s too early too look for a change of view. Why?
First: BETFI vs. BETC pair is overstretched against BETFI. Historically all these extremes have been followed by a drop in BETFI. How can it be explained? BETFI is blue chip compared to the broad based BETC. When blue chip reaches an outperformance extreme against broad market, markets generally pause and drop.
Second: The excitement on BETFI is not witnessed in BETC, BETNG, BETXT and BET. One index excitement maybe too much to turn around an exhausting multi month trend.
Third: Both BRD and ERST have Key Reversal bars which are unbroken. Till we see a break in prices, we don’ t have negative confirmation.
Fourth: TEL and TGN utility majors remain negative.This is why any similarities to a continuation TRIANGLE in BETFI may be too early a signal to change our DOWN RECO. We have enclosed the relevant cases.
Enjoy the special update on WAVES.ROM
* This is a perspective product and not a strategy product. Long Short strategies are not riskless strategies. Please mail us for a detailed working or consult a local financial risk manager.
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WAVES.ROM is a perspective product published on TUESDAY’S and THURSDAY’S. The report highlights Romanian Stock Market top three Equity Indices viz. the top ten blue chip BET Index (.BETI), BET Composite (.BETC), the Financial Index BETFI (.BETFI) and the local currency RON (EURRON=, RON=). The products covers the top ten BET component stocks. (ROMP.BX, SNPP.BX, BATR.BX, BRDX.BX, TSEL.BX, ATBE.BX, BRKU.BX, BIOF.BX, IMPT.BX, TUBU.BX) and all the components of BETFI Financial Index(SIF2.BX, SIF5.BX, SIF3.BX, SIF1.BX, SIF4.BX) are covered in the report. The product highlights Primary (Multi Month) and Intermediate (Multi Week) price trends. The report illustrates key price levels, price targets, price projections and time turn windows. The product uses Elliott waves, traditional technical analysis tools, sentiment indicators and other alternative research tools like INTERMARKET to spot outperformers. WAVES.ROM, CHANNELS.BVB and CHANNELS.RASDAQ are bundled together as PERSPECTIVE products. Unlike WAVES which focuses more on blue chips, CHANNELS covers all the BVB and RASDAQ stocks.
REUTERS COVERAGE .BETFI, TUBU.BX, TSEL.BX, SNPP.BX, SIF5.BX, SIF4.BX, SIF3.BX, SIF2.BX, SIF1.BX, ROMP.BX, IMPT.BX, BRKU.BX, BRDX.BX, BIOF.BX, BATR.BX, ATBE.BX