2023-06-25 07:59:27
The Tunindex in an upward trend, before the publications of the first half of 2023. The rebound of the Tunindex continues, the key threshold of 9,000 points is approaching.
The Tunindex closed the week in the green, for the 4th consecutive session this Friday, investors in Tunis taking note of the statements of the boss of the BCT who confirmed the stabilization of the key rate (8%), specifying moreover that “the process of disinflation to bring inflation back to ‘sustainable’ levels still has a long way to go.
However, it should be noted that this has no impact on expectations for the next tourist season and its macroeconomic impact.
As for the week under review, investors interested in the Tunindex had few important statistics to watch.
At the macro-financial level, the indicators of the day, from one week to the next
– Treasury current account on 21-06-2023: 586 MD
– Net assets in foreign currency on 22-06-2023: in MD: 22867, in days of importation: 98
– Banknotes and coins in circulation on 21-06-2023 19464 MD
– Global volume of refinancing from 2206-2023: 15110 MD
– Money market rate (TM) on 22-06-2023: 8.00000%
– Key interest rate on 06-22-2023: 8.00000%
– Average money market rate (TMM) for the month of May 2023: 8.00000%
– Savings remuneration rate (TRE) for the month of June 2023: 7.00000%
The Bvmt
The Tunindex closed in the green with impressive stability this week, thanks to large caps: 29 up once morest 21 down and 14 unchanged.
The market recorded an increase in values, including, in particular, industrial ones, the result of the continuation of the sentiment of the previous three weeks.
Tunindex weekly analysis
However, the great caution in the face of economic activity that is still unresolved and a political indeterminacy to revive activity, Friday’s exchanges are pulled up by the few large caps, in particular Sotipapier, Telnet, City, Sotuver, Sotrapil. HL…
With a bullish week over 4 sessions, the Tunindex closed the week in clearly positive territory, attacking 9,000 points.
Tunindex components
At Friday’s closing, note the volatility of prices once morest a background of moderately sustained transactions: 3.7 MD to 8,925 points.
Stock market profile of the week
The Tunindex closed the week with a series of breakouts that allowed it to stabilize above all of its major moving averages.
The Bvmt is part of the demand market, in quantitatively eclectic weekly volumes, around a daily average of more than 720 (-) K. securities traded, over 3 months, according to the panels, block negotiations not included.
The main sectors of the Tunindex closed the last session, in scattered order, with relatively lower weekly volatility (ATR (14): 49.4%) underpinned by relative risk aversion.
Throughout the week under review, the Tunindex finally stabilized at around 8,920 points. The main sectors that make it up have seen an ups and downs, with overall demand.
Chart and technical analysis
During the week under review, the Bollinger Bands narrowed, as seen in the candlestick chart below, to materialize the low market volatility.
The MACD (12-26-closing-9 “blue curve”) curves higher with the prospect of another bullish reversal over the coming week, with medium reliability.
At the end of the week under review, the Bvmt closes Friday’s session in line with the “Strong Buy” sentiment.
The Tunindex, in daily data, beyond its psychological threshold at 8,850 points and beyond its pivot point, is positioned at the top of the upper zone of the 8,800-8,950 channel channel, with a:
– Point Pivot : 8897,37 points,
– Its resistance (on the rise) R3: 8947.78 points and
– Its support (within the fall), S1: 8885.70 points.
Consensus
– The trend remains generally bullish, with medium reliability
– The prospect of a technical correction is seen with low reliability for the coming week.
Finally, it should be noted that for the Tunindex, the analysis and the consensus show a “Strong Buy” signal in daily and weekly data.
This scenario is valid as long as the Tunindex is positioned in the 8,950-9,000 point level.
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#Tunindex #week #green
