The markets have become quite stretched in recent days, so the likelihood of a more significant correction has been growing. This is well reflected by the low number of momentum-based entry signals; moreover, the quality of these signals is not particularly favorable. One potential reversal signal came from the German company Nemetschek, which develops software solutions for the digitization of the construction industry, architecture, engineering design, and real estate management. After a prolonged downtrend, the stock began to rise and formed a trend reversal on the chart—that is, the previous downtrend was replaced by an uptrend. Nevertheless, in terms of buying opportunities, potential retests and oversold conditions may still offer more favorable entry points.
Based on recent developments, the major U.S. indices may form lower highs. These market conditions are not conducive to momentum-based entry opportunities, which is why few stocks met our screening criteria. Among these, we do not see any opportunities that would offer favorable return potential relative to the risks, so we are not issuing any recommendations this week.
The index stalled near the 150,000-point level, but so far there has not been a strong sell-off that would signal the start of a significant correction. The pattern that is taking shape may already be ready for a reversal, so it may soon become justified to look for short positions. MOL rose steadily to reach the 5,000 forint level, where the first signs of a correction have already appeared. The next significant support level is only around 4,375 forints. Richter climbed back to its previous high and stalled there, but has not yet turned downward. However, the chart is already showing signs of a potential correction. In the case of Magyar Telekom, profit-taking pushed the share price back down to the 2,500 forint level, which has so far proven to be a strong support level. Opus continues to move within a downtrend, and there are no clear signs of a reversal yet. Strong support is visible near the 281 forint level. Following a sharp rise, Rába is currently in a consolidation phase. It is worth looking for opportunities to enter long positions after a deeper retest, particularly in the range below 3,125 forints.
The index reached the 150,000 level, which essentially halted the rally. The momentum divergence that had appeared had already signaled this. A break below the thin green trendline could trigger a more significant correction, which will soon reach 143,750. On the buy side, it is advisable to wait and see.
Resistance levels: 150,000; 156,250.
Support levels: 140,624; 137,500; 134,375; 131,250.
Buyers have dried up in the range above 5,000. The pattern suggests a correction, but for that to happen, the price must break through the dotted line. Momentum is starting to fade, so it’s no longer worth forcing long positions. Strong support lies around the previous high of 4,375. The uptrend line is far away, so any correction could be significant.
Resistance levels: 5166; 5,313.
Support levels: 4,375; 4,062; 3,750; 3,438.
The natural level of 13,438 halted the rally; above this level, more concentrated selling pressure emerged. This level also marked the previous high, so we are currently in a long-closing period, which could lead to a correction. Ideally, the price should hold at 12,500, and above that level, it might be worth looking for long positions.
Resistance levels: 13,750; 14,375; 15,000.
Support levels: 12,500; 12,180; 11,875; 11,250; 10,940; 10,625.
The stock experienced a sharp correction, finding support at the 2,500 level. Since it has also changed its structural pattern, it may take several weeks before the pattern is suitable for considering a long position again. If it were to rebound to around 2,656, selling might once again be the better option.
Resistance levels: 2,656; 2,734; 2,813.
Support levels: 2,500; 2,375; 2,250.
The downtrend is the dominant factor. Until the price closes above the red trendline again, it’s not a good idea to go long. Stronger support is found around the 281 level. A dip could mark an important low, but until we see a strong up day with significant volume, going long doesn’t seem like a good idea.
Resistance levels: 375; 406; 438.
Support levels: 281; 250.
After quickly reaching 4,375, a broad consolidation phase began. On the downside, strong support can be found starting in the 2,500 range, so looking for long positions in the zone below 3,125 may again be advisable. The red trendline, however, is still far away; a prolonged consolidation would be needed to create a favorable long situation again.
Resistance levels: 2,500; 3,125; 3,750.
Support levels: 1,875; 1,563; 1,250.
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