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

KEY GRAPHIC ELEMENTS

The daily data chart analysis of the COFACE share makes it possible to identify an upward trend in the short term as well as in the medium term. Among the dominant chart factors, we noted the presence of two bullish continuation gaps on COFACE share prices. In terms of trend indicators, the 20-day moving average (in dark blue) acts as a support for prices. The technical reading in Japanese candlesticks identifies a bullish engulfing pattern dating from the session of 10/28/2022. According to Japanese candlestick analysis, bullish engulfing has positive consequences for price. The combination of “three advancing soldiers” at the end of December will have reinforced the bullish message delivered. The trading volume remains strong as the ascent progresses, a technical data favorable to our anticipation. Volumes are accelerating, a crucial observation at this stage of the advance, and this in the absence of signs of slowing down.

FORECAST

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

Active investors will take a buying position on the COFACE share price at €13,990 with a target of €16,990 in sight. They will protect their capital by placing a stop at €12,950.

The News Bulletin 247 board

COFACE
Positive 13.990 €
Objective :
16.990 €
Potential :
+21.44%
Stop:
12.950 €
Resistance(s):
15,000
Medium(s):
12,320 / 11,700

CHART IN DAILY DATA

Graphic made from the software Prorealtime



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