(News Bulletin 247) – Our analysts have spotted an excellent chart pattern on the COVIVIO share, which the most active investors will be able to work on, at current price levels.

KEY GRAPHIC ELEMENTS

Oversold, the stock has been trading below its 50-day moving average (in orange) since the formation of the bearish gap on February 22. The downtrend is strong, persistent, and supported by a federation in the selling camp. The low points have not yet been reached, as the combination of candles in three black crows suggests (May 25, 26 and 29). However, and at this stage of the decline, when the RSI oscillatory enters the oversold zone, a short phase of contestation, of the technical rebound type, is the preferred short-term option.

FORECAST

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

Active investors will take a buying position on the COVIVIO share price at €45,620 with a target of €49,990 in sight. They will protect their capital by placing a stop at €43,490.

The News Bulletin 247 board

COVIVIO
Positive 45.620 €
Objective :
49.990 €
Potential :
+9.58%
Stop:
43.490 €
Resistance(s):
48,700 / 51,900 / 55,400
Medium(s):
44,900 / 40,000

CHART IN DAILY DATA

Graphic made from the software Prorealtime

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