(CercleFinance.com) – The Euro-Stoxx50 sets a new absolute record at 5,059, an annual gain of 11.7% (including +650 points since January 17, or +15% exactly.
The index is preparing to complete its 21st week of the increase cycle (+1,050 Points since October 23, 2023, or +26%, with a single correction of -1.5% at the beginning of January) and its 9th consecutive week of progression.
The longest ‘continuous’ weekly bullish series dates back to October/November 2022 with also 9 consecutive weeks, the longest monthly series (7 months) materialized from the end of January 2020 to August 2020.
The last major oscillation between August and October 2023 (465Pts between 4,465 and 4,400) induced a potential progression up to around 4,930, which is largely exceeded (by more than 120Pts).
even the most optimistic assumptions for the entire year are surpassed.
The verticality of the movement over the past 6 weeks is impressive, the reversal threshold is around 4,780 Points, a level which coincides with the ‘gap’ of 02/21.
There is no more graphic objective, no more resistance: the Euro-Stoxx50 becomes ‘parabolic’!
Copyright © 2024 CercleFinance.com. All rights reserved.
The information and analyzes distributed by Cercle Finance only constitute a decision-making aid for investors. Cercle Finance cannot be held responsible directly or indirectly following the use of information and analyzes by readers. It is recommended that any uninformed person consult a professional advisor before making any investment. This indicative information does not in any way constitute an inducement to sell or a solicitation to buy.
Did you like this article ? Share it with your friends using the buttons below.
