German industry in freefall - ESI Lower & PMIs lower.
Consumer confidence lower, the chemical industry relies heavily on consumer products.
China PMIs lower again.
60% of sales are based in China/Europe new orders slowing
"In China, the world’s largest automotive market, the decrease was more than twice as high, at around 13%."
Profit warning 30%...
An own build index for long term investment on European stocks. Lets see if this log(Channel) holds.
1/12 BE Semiconductor
1/12 AB Inbev
3/12 Amundi CAC40 ETF (C4D)
Bullish Divergence could occur on BASF and needs to be watched.
This goes against a weekly downtrend, so would be a short term bet to profit from the upswing.
As soon as MACD ticks up from now again so completes the divergence and is a buying signal.