SBB

SBB remains in a Stage 4 decline with the tradable side clearly bearish. The recent bounce from oversold levels is testing the down-sloping EMA cluster without decisive rejection, offering no clear short-side trigger yet. Execution is deferred (Trim) into rallies toward the 9/20 EMA zone to seek rejection. A sustained reclaim and acceptance above the 50 SMA and EMA cluster would invalidate the medium-term bearish bias.

• ↑Broad portfolio of residential & community service assets underpins stable rental revenue.
• ↑Government infrastructure spending and urbanization trends drive long-term occupancy growth.
• ↓Swedish rate hikes increase debt servicing costs and strain profit margins.