Over the past few weeks, the technical situation of the TSX Composite index of the Canadian stock market has improved.
Copyright DMF New Media – ETFWorld.co.uk
Reproduction prohibited in any form, even partial
The TSX Composite Index, after having fallen towards the end of October to a relative low of 18,700 points, has in fact made a fast leap forward and has risen above 20,400.
Quantitative analysis shows a clear strengthening of the bullish pressure, with the main directional indicators turning long.
After a brief pause of consolidation, a further extension is therefore possible, with a first target in the 20,600-20,620 area, a second target at 20,700 and a third theoretical projection in the 20,820-20,835 point area.
The breakout of 20,850 would then provide a further demonstration of strength.
Click on the image to enlarge it.
It is difficult for now to hypothesise a bearish trend reversal: a possible correction would in fact find valid graphic support at 19,700 points.
From a graphical point of view, then, only a return below 19,450 could provide a negative signal.
Click on the image to enlarge it.
The following ETFs can be used to invest in the TSX Composite Index of the Canadian Stock Exchange:
HSBC MSCI Canada, ISIN IE00B51B7Z02. It is an ETF with €24m in assets under management, which provides for total physical replication of the underlying and which adopts a distribution policy (with dividends being distributed semi-annually to investors). The total expense ratio (TER) is 0.35% per annum.
iShares MSCI Canada, ISIN IE00B52SF786. This is an ETF with €874m in assets under management, which provides for full physical replication of the underlying and has an accumulation policy (with dividends being reinvested within the fund). The total expense ratio (TER) is 0.48% per annum.
UBS MSCI Canada, ISIN LU0446734872. It is an ETF with €753m in assets under management, with total physical replication of the underlying and a distribution policy (with dividends being distributed semi-annually to investors). The total expense ratio (TER) is 0.33% per annum.
Copyright DMF New Media – ETFWorld.co.uk
Reproduction prohibited in any form, even partial
Disclaimer
The contents of these notes and the opinions expressed should in no way be regarded as an invitation to invest. The analyses do not constitute a solicitation to buy or sell any financial instrument.The purpose of these notes is financial analysis and investment research. Where recommendations are made, they are of a general nature, are addressed to an indistinct audience and lack the element of personalisation. Although the result of extensive analysis, the information contained in these notes may contain errors. Under no circumstances can the authors be held liable for any choices made by readers on the basis of such erroneous information.erroneous information. Anyone deciding to carry out any financial transaction on the basis of the information contained in the site does so assuming full responsibility.
Subscribe to Our Newsletter
