Shares in Bossard have broken out of a long-term bottoming formation on a closing price basis. From a technical analysis perspective, we see further significant upside potential for the shares as well as a continuation of the intact relative outperformance versus the Swiss Performance Index (SPI).

The gold price has achieved an upside breakout from the falling wedge consolidation that had lasted since January; what’s more, it has clearly pushed well past the 200-day average. The positive technical set-up, uncertain geopolitical situation and other structural factors – in particular the financial markets’ loss of confidence in the US dollar as reserve currency and in US government bonds as a safe haven – open up additional upside potential for this precious metal towards the USD 6,000 level.

Global equity markets are marking new record highs. From a technical analysis perspective, there is no evidence at present of any significant divergence that would seriously threaten the ongoing rally in the medium and long term. In fact, we think the biggest risk lies in not being invested in equities or in holding too low an equity allocation relative to your personal risk budget. Accordingly, we remain positive on global equities.

In line with the expectation set out in our Market Minute of 16 April 2026, the Swiss Performance Index (SPI) has reached a new record high and is trading well above the medium-term 63-day and long-term 200-day average. The Swiss equity market remains attractive in technical terms. ABB and Sandoz are particularly interesting in our view.

The broad Swiss equity market has made strong gains since 23 March, with the Swiss Performance Index (SPI) now firmly back above the medium-term 63-day and long-term 200-day average. From a technical analysis perspective, we expect further upside potential for the Swiss stock market. Accelleron and Helvetia Baloise shares are particularly attractive, in our view.

Swiss Prime Site shares have made significant gains in relative strength versus the SPI benchmark index, showing positive technical trend and momentum indicators. From a technical analysis perspective, we expect further upside for Swiss Prime Site as well as a continuation of the intact relative outperformance versus the SPI and new record highs on an absolute basis.

BB Biotech AG’s share price is breaking out of a head and shoulders pattern and confirming a long-term bottom formation. From a technical analysis perspective, we expect further upside for BB Biotech AG as well as a continuation of the intact relative outperformance versus the SPI.