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The selected tracker (ETF) reproduces, without leverage, the variations of the STOXX Europe 600 Banks Net Return EUR index, which brings together the largest capitalizations in the banking sector in Europe (United Kingdom included). An indexation product in full upward trend in the context of tension on the bond market, which has a direct impact on the profitability of banking activities. The top 5 capitalizations in the basket are HSBC, BNP-Paribas, Banco Santander, ING Groep, and Nordea Bank.
KEY GRAPHIC ELEMENTS
The graphical analysis of daily data of the LYXOR ETF SX6 BANK tracker makes it possible to identify an upward trend in the short term as well as in the medium term, without losing steam whatever the time horizon considered. The position can be maintained as long as prices remain within a working band between the 50-day moving average (in orange) and the upper limit of the Bollinger bands (20;2.5).
FORECAST
In view of the graphic elements mentioned, the News Bulletin 247 team suggests that active investors take a purchasing position on the LYXOR ETF SX6 BANK tracker, at the current price, with €40,0000 in their sights. A protective stop must be placed at €33.3000.
News Bulletin 247 advice
DAILY DATA CHART
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