2024-01-27 15:26:00
The last week of trading on the Tel Aviv Stock Exchange was marked by slight price drops in the leading indexes, but it would be more correct to define it as a mixed trend, since the second row stock index, the Tel Aviv Stock Exchange 90, rose about 0.9%, and on the other hand, the banking index, which is a sectoral index but still a central component The market lost close to 3%.
Towards the opening of the trading week, the dualities will weigh at the opening with a weighted negative spread of 0.2%. Ormat returns with a negative gap of 1.3%, ACL with a negative gap of 1%, Tower returns with a negative gap of 2%, Nice with a negative gap of over 3%, Kamtech with a negative gap of about 3%, and on the other hand Teva returns with a positive margin of 1%.
The reporting season has not yet started in Israel, but Aloni Hatz has already provided another revaluation of losses abroad that will result in an annual loss from revaluations of approximately NIS 2.8 billion. The stock of the stock exchange jumped this week after the Jewish-American investor Bill Ackman purchased 4.99% of the stock exchange’s shares in exchange for 95 1 million shekels, the deal was made as part of a larger deal in which 18.5% of the shares of the stock exchange were sold to foreign investors from the USA and Israeli institutions. The Phoenix will invest up to 260 million shekels in the green energy arm of Generation Capital.
Among the prominent stocks this week in the Tel Aviv 125 index, we mention the Stock Exchange, Next Vision and Nofer Energy, which rose 9.8%, 8.6% and 8.3% respectively. On the other hand, shares of Bee Communications, Veridis, and Ofco stood out in price declines, shedding 5.6%, 5.4%, and 5.4% of their value, respectively. Of all the market shares, we mention Energin, Razor and Mer, which rose 68.4%, 49.8%, and 35.6% respectively. On the other hand, the shares of Envision, Hadassit Bio and Ord shed 58.5%, 31.8% and 22% of their value respectively.
In the weekly summary, the Tel Aviv 35 index fell by 0.68%, the Tel Aviv 90 index rose by 0.88%, the banks index fell by 2.66%, the real estate index fell by 1.3%, the oil and gas index rose by 0.82% And the biomed index fell by 3.78%. In the foreign exchange market, the dollar weakened by 1.2% this week and is now (Friday) trading at a level of 3.70 against the shekel.
The MAOF index – technical forecast – the Tel Aviv 35 index closed the trading week with a decrease of 0.68% and closed at a level of 1,827.29 points. The market opened the last trading week with an increase in uncharacteristic weakness after the new highs in the US. The rest of the week was direct to the market’s anaemia, alongside headlines about a temporary ceasefire and a hostage deal going on in the US stock exchanges. From a technical point of view, the market reduced volatility this week and created a resistance zone around 1,857 points which is a weekly high and technical support with the weak closing for the trading week at the level of 1,826 points. On the face of it, and despite the good atmosphere from abroad, it seems that the market is ripe for another leg down to test the recent low around 1,800 points in the first stage.
The banks index – on the one hand, the index shows weakness in all of the last three months and unlike other indices that closed price gaps and recovered from the October declines, the index failed to make a full recovery for the event. It is important to note that bank shares have mitigating circumstances and unlike other indices they entered the war at a new all-time high. In the shorter term, the index falls this week from the last low and erases the move of half of the month of December into the beginning of January below 3,400 points. On the one hand, the index knows how to make false breaks and issue corrections, but the sentiment seems to be negative and right now it looks more like wishful thinking. Close support exists at the weekly low at the level of 3,317 points.
The German DAX index – the German DAX behaved in accordance with my expectations from the previous week “the latest correction in the index was mainly lateral after the sharp increases and the pattern can certainly open not only to the last peak but to new highs”. So at this point the index has moved forward and is approaching the last peak around 17,000 points, putting the nearest resistance before another upward move.
stock analysis
Electra Real Estate (1094044) – The company’s shares are traded on the Tel Aviv 90 index. The stock touched the support zone that I mentioned around the level of 3,630/40 points and went forward lazily. The possibility of holding to the 4,000 area in the first stage and perhaps even above the 4,200/50 points area still exists at this stage, which will maintain the paper’s lateral movement from the last few months.
Direct Financing (1168186) – The company’s shares are traded on the Tel Aviv Index 90. The stock has made an incredible upward correction in recent weeks from the low point at the beginning of November to a resistance zone around 50,000/800 points. The sideways movement in the last month is good and can lead to continuity. Close support exists around 45,000 points.
Malam Timm (156018) – The company’s shares are traded on the Tel Aviv Index 90. The stock also survived the last trading week well and although it fell slightly from the last low on Monday, it managed to come back up in the second half of the week. The technical pattern that is emerging is still alive, and all that is needed is a powerful transition Above the resistance zone around 5,230/50 points, a technical pattern with a rising target of about 1,000 points above can emerge.
Torfaz (1175611) – the stock is traded in the SME60 index. The stock is trading in a falling technical correction for the last month and a bit and this is after a very strong rally. It looks like the stock is trying to brake above a support area around 1,200 points at this point. For those who think that the word has not yet been spoken during the rising, can sample with a clear stop, as going forward will bring an initial potential to test the last high around 1,500 points.
OPC Energy (1141571) – The company’s shares are traded on the Tel Aviv Index 35. The stock continues in the past trading week to establish itself above the resistance area that was breached around 2,470 points. The emerging price structure supports a further upward correction towards the essential resistance band around 2,800-2,850 points. The trigger for the end of consolidation will be received by breaking and closing above the last high in the area of 2,600 points. The working assumption is valid for more trading above the area of 2,470 points.
Ista (1081074) – The company’s shares are traded on the Tel Aviv Index 90. The stock was established throughout the trading week above the 6,400 point area and on the last trading day it registered another reversal candle and signed its owner. The last trading low is rising and from here it will rise back to the last high area. The trigger for this will be received by breaking and closing above 6,800 points which is a point resistance. The working assumption is valid as long as the stock trades above 6,400 points.
Yeshers (613034) – The company’s shares are traded in the Tel Aviv Index 90. Last week the stock overturned above the horizontal support area around 74,700 points, however the stock was unable to maintain this positive momentum after opening the trading week by falling back to this area, however on Wednesday it returned to rise and continued on Thursday as well, so that there is still a possibility of a continuation of the rising correction back to the 81,000 point area where it was halted at the beginning of January. At this point the assumption of the job remains unchanged with the immediate target being a return to the all-time high around 81,000 points. The breaking of the last record will confirm the positive trend and the continuation of the upward movement to new heights.
High School Towers (1131523) – The company’s shares are traded in the Tel Aviv Index 90. The stock recently broke through the resistance zone of 928-933 points and has since been based above it. From above, the 980-point zone is resistance so that in practice the stock has been vacillating in the past two weeks in the range of 928-980 points. Previously The stock registered an impressive wave of gains and the assumption is that at the end of the current shuffle the stock will continue to correct upwards to the 1,100 point area, the peak of 2022. The 1,000 point area is a point resistance. The trigger for the end of the shuffle and an upward exit will be received by a break and close above 980 points.
Fox (1087022) – The company’s shares are traded on the Tel Aviv 90 index. The stock recorded a volatile trading week, in the end of which it recorded a minor decrease. On the last trading day, the stock once again closed close to the horizontal resistance zone around 27,320 points, so that breaking it and closing above it will open up new targets for the upward correction. From above The 30,700 area has been marked as nearby resistance.
For the full forecast on the sponsor website, where you can also view the various graphs that accompany the various forecasts, please click here:
Index analysis
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This review is intended to help people get a personal view of the sponsor team regarding the market and its possible directions, but the analysts cannot be sure of the realization of the scenarios raised as nothing is certain in the capital market at all. With regard to all the shares mentioned above, the above does not contain a recommendation or advice to buy or sell or perform any other action in the shares mentioned, the writer of the lines may own some of the shares in question. Anyone who takes action, does so based on his judgment only.
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