Index PX-50 closed in a negative territory yesterday again, pulled by global sentiment. On the regionwide basis, major attention is currently drawn into Hungary where earnings season peaks. OTP, Magyar Tel and MOL have already reported their earnings. Locally, we trade on a poor news flow, investors seem to position long ahead of the Czech earnings. Yesterday, CEZ traded with the biggest intraday volatility, of CZK 792-805, we saw several stop loss trades from both institutional and retail accounts. Zentiva continues to be punished from international players. Komercni banka tests important support levels, break below these levels may be signal for further downside, our technical research suggests.