AXA (CS.CAC40)

Court terme

AXA a débordé le canal baissier à la hausse, ce qui, dans un premier temps, indique un taux de repli moins fort. Le titre est en repli après un débordement, probablement faux, d'une formation double sommet. Des cours établis sous le 33.92 peut encore donner des signaux négatifs. Par contre un franchissement du coté opposé de la ligne de la formation peut être considérée comme un signal d'achat très fort. L'action a franchi la résistance à environ 33.90 euro. Une poursuite de la hausse est donc indiquée, et il y a maintenant un support à 33.90 euro en cas de corrections. L'action est généralement considéré comme neutre technique pour court terme.

Recommendation one to six weeks: Hold (Score: -3)

Moyen terme

AXA fluctue dans un canal haussier. Un développement positif poursuivant le canal haussier est indiqué. Le titre est en repli après un débordement, probablement faux, d'une formation double sommet. Des cours établis sous le 33.92 peut encore donner des signaux négatifs. Par contre un franchissement du coté opposé de la ligne de la formation peut être considérée comme un signal d'achat très fort. L'action s'approche de la résistance à environ 34.90 euro, ce qui peut indiquer qu'une correction est possible. Les hauts et les bas des volumes correspondent mal aux hauts et aux bas des prix. Ceci affaiblit la tendance haussière et peut être un signal précurseur d'un futur changement de tendance. L'action est généralement considéré comme negatif technique pour moyen long terme.

Recommendation one to six months: Négatif (Score: -55)

Long terme

AXA a débordé du canal haussier à la baisse. Cela indique dans un premier temps, un taux de croissance plus faible ou le début d'un développement plus horizontal. La valeur a cru fortement après un signal d'achat d'une formation rectangulaire sur le franchissement de la résistance à 29.06 l'objectif de 33.98 est maintenant atteint, mais la formation indique une poursuite du développement dans la même direction. L'action a un support à environ 29.00 euro. L'action est généralement considéré comme positif technique pour long terme.

Recommendation one to six quarters: Positif (Score: 89)

Investtech’s analyses focus on a stock’s trend status, short term momentum and volume development. These are central topics of technical analysis theory that describe changes in investor optimism or fluctuations in a company’s financial development. However, Investtech’s strong focus on these elements is due to research results that clearly indicate causation between these factors and future return on the stock market.

Trend

Theory: Stocks in rising trends will continue to rise.

Psychology/economy: Rising trends indicate that the company experiences positive development and increasing buy interest among investors. Read more

Research: Stocks in rising trend channels in Investtech’s medium long term charts have been followed by an annualized excess return of 7.8 percentage points compared to average benchmark development. This is shown by Investtech’s research into 34,880 cases of stocks in rising trends on the Nordic Stock Exchanges in the period 1996 to 2015.
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Momentum

Theory: Stocks with rising short term momentum will continue to rise. Stocks with very strong momentum (overbought) will react backwards.

Psychology/economy: RSI above 70 shows strong positive momentum. The stock has risen in the short term without any significant reactions downwards. Investors have kept paying more to buy stocks. This indicates that more investors want to buy the stock and that the price will continue to rise. Read more

Research: Stocks with strong momentum have on average continued to rise, and more so than the average stock listed on the Exchange. This is shown by Investtech’s research into 24,208 cases of stocks on the Nordic Stock Exchanges in the period 1996 to 2015 where RSI went above 70 points, indicating strong and increasing short term momentum. On average, annualized, the stocks rose the equivalent of 11.4 percentage points more than the average stock.
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Volume

Theory: Rising prices on high volume and falling prices on low volume indicate strength in a stock. Volume can confirm a rising trend or signal that a falling trend is ending.

Psychology/economy: When investors very much want to buy a stock, they have to increase the price to find new sellers. Rising price on high volume shows that some investors are so aggressive that they push the price up to be able to buy the stock. Investtech’s Volume Balance tool measures the relation between price rise and volume and measures investor aggression at rising and falling prices. Read more

Research: Stocks with volume balance above 40 have been followed by an average annual return of 4.7 percentage points on the Nordic Stock Exchanges, shown by research conducted by Investtech into 24,580 cases.
Read the research report here

 

Investtech's analyses

Investtech has combined theory, psychology and research into powerful investment tools.

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Investtech are behavioural finance and quantitative stock analysis specialists. The company sells analysis products to private, professional and institutional investors. Investtech manage the AIFM company Investtech Invest, which invests customers’ funds in the stock market.

Investtech’s computers analyze more than 28,000 stocks from 12 different countries every day. The analyses are presented in eight languages and sold to customers worldwide. In addition to the automatic analyses, the company’s analysts present subjective assessments and recommendations for some markets. The analyses are available to customers in the form of daily morning reports and cases, and weekly market updates and model portfolios.

Investtech’s algorithms for analysis, ranking and stock recommendations are based on research dating back to 1993. Part of the research was conducted in cooperation with Oslo University and the Norwegian Research Council. Research still has high priority for Investtech. Many of the company’s research results are available for customers on the company’s web site.

The company’s basic product starts at approx. 30 euro per month. Investtech also provides bespoke products for integration on partners’ web sites and for use in newsletters, for example to stock brokers and the media. Contact us by e-mail to info@investtech.com or by phone +47 21 555 888 for more information. A free trial subscription is available to order on our web site www.investtech.com.