(News Bulletin 247) – A clearly affirmed bullish momentum on the MICHELIN share will invite active investors to position themselves for the purchase, within the framework of a swing trading operation.

KEY GRAPHIC ELEMENTS

Graphical analysis in daily data of the MICHELIN share makes it possible to identify an upward trend in the short term as well as in the medium term. In terms of trend indicators, the 50-day moving average (in orange) acts as a support for prices. The 20-day moving average (in dark blue), the short-term trend line, took support at the very beginning of January, on the long-term trend line. Prices made a lagged double support on the 50-day moving average on December 20 and 30. The trading volume is on the rise, a technical data favorable to our anticipation.

FORECAST

In view of the key chart factors we have mentioned, our opinion is bullish on MICHELIN stock in the short term.

Active investors will take a buying position on the MICHELIN share price at €30,520 with a target of €36,950 in sight. They will protect their capital by placing a stop at €28,490.

The News Bulletin 247 board

MICHELIN
Positive 30.520 €
Objective :
36.950 €
Potential :
+21.07%
Stop:
28.490 €
Resistance(s):
31,000 / 37,000
Medium(s):
28,700 / 27,950 / 24,900

CHART IN DAILY DATA

Graphic made from the software Prorealtime



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