The following chart shows the # of ADRs in our ADR universe trading >5% below their 200 dma. Since 2008, risk/reward has shifted to buyers when this contra trend reading gets to between 150 and 200.
The average score across our ADR universe is 44.27, which is below both the four and eight week average scores of 46.72 and 46.38, respectively. The average ADR fell -1.84% last week and is trading -27.97% below its 52 week high, -8.16% below its 200 dma, has 3.95 days to cover held short, and is expected to grow its EPS by 13.24% in the coming year.
Healthcare (WX, RDY, NVO, GWPH, AMRN, TEVA, SVA, LUX) is the best sector across ADRs. Financials (AXS, CS, BCS, QIWI, RY, PUK, BMO) and services (RYAAY, ICLR, OMAB, HMIN, PAC, CTRP, BSYBF) also score above average. Consumer goods score in line. Industrials, technology, basics, and utilities score below average.
The best zones are the Middle East (PTNR, TEVA, NICE) and No. America (RY, BMO, BCE). The top regions include MENA, UK/Irelands (RYAAY, ICLR, GWPH, AMRN, BCS, BSYBF, NGG, SKYAY), and No. America. Bermuda (AXS, GSOL), Ireland (RYAAY, ICLR), Italy (TI, LUX, NTZ), Switzerland (CS, NSRGY, UBS), and Canada should be overweight.
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