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Re-emerging strength following a multi-month base.
(Euronext Amsterdam)
Previous Post: European Financials: Attractive Valuations + Improving Technical Structure
In September of last year (2024), I discussed European equities being inexpensive near it's all-time highs. This week, the Euro Stoxx 600 printed new all-time highs.
European Financials (EUFN ETF) form part of this group and are trading at the same level (in USD term) as they did in 2010 and 2011.
Look at that multi-year base.
In addition, the sector trades at valuations that would require very little to go right to see a re-rating. In other words, the bar is low.
Previous Post: European Equities: Inexpensive Near All-Time Highs
Thursday, 26 September 2024 at 21h12
ETF: iShares Europe
Ticker: IEV
Trading at 52-week highs, but remains relatively inexpensive
Current Price = $58.78
Medium term target = $68
The setup is invalidated below 54.00
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