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On Belgrade Stock exchange is still winter…
Good morning… Yesterday was beautiful and sunny day in Belgrade, while on Belgrade Stock exchange bad and gray weather is continuing. Liquidity was on expected low level, with only three shares with turnover over million RSD (cca. 10.000 EUR). Those were the most liquid AIK bank (AIKB), Agrobank (AGBN) and Imlek (IMLK). Total turnover was 61 million RSD, where bonds participated with 42%. indices recorded positive corrections, regarding liquidity… index of the most liquid shares, Belex 15,went up for 0.56%, while general index, Belexline, closed with correction of 0.28%.
Participation of foreign investors was on satisfactory level of 62%, with quite huge participation on the buy side of even 86%, against participation on the sell side of 38%. Published annual financial statements of Alfaplam (ALFA) for 2009 did notaffect price, and results are very good, considering crisis.
We wish you a successful day!
| DOWN | 28 |
| NO CHANGE | 19 |
| UP | 10 |
| TOTAL TRADED | 57 |
TOP PERFORMERS (table)
BELEX15 / General info / Change (%) / Fundaments (Trailing Basis for banks) (table)
AIKB SG: AIK Banka AD (chart)
SERBIAN EQUITY market; FUNDAMENTALS OF SELECTED COMPANIES
Selected Serbian Equity Fundamentals (Trailing Basis) & Performance (tables)
WORLD EQUITY indices - FLASH DATA
General Information / index / Country / Change / Fundaments (table)
Uncertainty on the market because of possible further monetary restrictions in China
Yesterday on the Wall Street was traded very carefully, but leading indices still grew, because investors’ fear of further restrictions in monetary policy in China, which could affected slowing down of world economy’ recovery. Investors were scared by decline of shares’ value on Shanghai stock exchange on Monday on the lowest level in the last five week, because it is expected that China’ central bank could increased, one more time (third time in this year), rate of required reserves and declined banks’ credits, companied with inflation which is growing faster than it is desirable. Particular uncertainty was made by expected proposal of Democratic party in Senate about financial system’ reform, with aim to bring huge banks (which bankruptcy would shake total economy) to reorganization and establish banking system able to bear itself’ mistakes (opposite of recent financial crisis which was eliminated by tax payers). Still, proposal, announced by president of Senate board for banking Christopher Dodd, wasn’t bring new unpleasant surprises, so banks’ shares prices went up, and before the end of trading removed indices from the red zone.
AIG US: Americal International Group (chart)
TECHNICAL OUTLOOK; WORLD EQUITY indices - SBITOP; daily graph
SBITOP -- Slovenian Blue Chip Idx (chart)
Out of oversold territory
We are again looking at daily SBITOP graph we looked at 5 days ago. As you might remember we suggested speculative long based on oversold on RSI and high ADX. So far this looks to be a good trade which we circled. Now we must detect potential resistance levels. According to fibo this could be around 950 where we see 38,2%. ADX still shows strong down trend, regardless of the last few positive sessions. index is not in oversold on RSI anymore. White trend line on RSI still ha snot been tested... an upward breach would be bullish.
Trading suggestion:
We would place T/P for our trade form 11.3.2010 at 950. We see first potential resistance on that level.
Technical targets:
| 967,00 | 61,8% fibo |
| 957,00 | 50% fibo |
| 948,00 | 38,2% fibo |
| 931,00 | close |
| 916,00 | low from 11/3/10 |
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http://reports.aiidatapro.com/SBB/InterCapital_Securities/IC_Equity_Daily_170310.pdf
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InterCapital Securities a.d. Belgrade
23, Makenzijeva Str. * 11000 Belgrade * Serbia * Tel: /+381 11 380 93 91 * Fax: +381 11 383 76 00 * http://www.intercapital.rs * e-mail: research@intercapital.rs
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IC Equity Daily 170310.pdf, 809 Kb
