Charts Avenue | Swiss Market Index

Swiss Market Index

updated on 16-FEB-2020

In 2019, the SMI was one of the first index around the world to make new all time highs.

An index is always the average of all its components. Therefore it is always interesting to take a so called deep dive into each and every single stock making up an index, focusing on those that are in an uptrend and putting aside those that are either in a downtrend or in a sideways range.

Let's start with checking where the index itself stands, before looking at its components.

Here's the Swiss Market Index weekly chart.

(click on the chart for full screen viewing)

The SMI is in a clear uptrend. As the price is currently above the 1.618 Fibonacci extension level of the early 2015 to early 2019 trading range, that area (10733) becomes support and the next resistance/target in sight lies around 12650. The RSI as well as the MACD are both in a bullish range and reaching an overbought level, i.e. interim pullbacks are likely.

With that in mind, let's have a look at the weekly charts of its components in alphabetic order with their respective resistance and support levels.

(click on any chart for full screen viewing)

ABB (ABB Ltd.)

Trend: sideways / Resistance: 24 and 27 / Support: 21 and 18