Monthly chart: Several country indices remain well below their multi-year highs, Italy being one of them. The ETF (in USD) is breaching an 11-year downward trend line. For long term equity portfolios, it may be time to be dig deeper in this region.
Italian economy looking realistic in terms of cost, historical comps & production. No position yet, watching daily to leg-in circa $30/share.
Number of coronavirus cases increases to 229. Europe's most affected country. The uncertainty around this virus will adversely affect economic progress and alter growth projections in the short term.
Source: Corriere della Sera Over 150 cases of Coronavirus in Italy and 7 regions are blocked and many villages in quarantine. Austria blocked all trains coming from the regions ar risk. Risk on for Europe this week. This present a potential short opportunity as the week starts. This idea provides two target levels and good buyback opportunity at Target 2 if reached.
Europe is on the edge of recession, market pumped with negative interest rates. At some point the charade has to end. Jan EWI puts were too cheap to ignore, in for a small play.
Euro markets all threw gravestone dojis this morning, I should have bought some Italy puts. Looks ike an exhaustion gap, but in reality it was a gravestone in the actual index. (Pattern difference is caused because the markets aren't open at the same time.) I bought some EWW (Mexico) puts instead, because of better liquidity, but his would have been a good...
More than just Europe, April 18th marked the more aggressive top that Italy saw before their government situation unveiled a lot of issues.
Looking for value in a overpriced market? This could be a trade with good risk/reward. I'm already in. If break out, high chances for hitting at least 45 or even 50.
Check goldenopportunitytrading.blogspot.co.uk
In June, Italy broke below the downtrend line its been following since mid 2013. After a sharp decline where it broke also below the 16.5 support zone, $EWI used the last couple of week to made a small pullback (in a form of a bearish Flag) right back into the 16.5 zone (now resistance). Since C point (16.5) was right at the 61.8 Fib level, we may see a possible...
I think Europe can surprise us with its stable growth. Despite good gain EWI still has great potential. This is my long term favorite!