(News Bulletin 247) – Based on a graphical argument, News Bulletin 247 analysts have selected SII for active investors.
NB: investors who have followed our recommendation on this same file will be able to keep the position, taking care to adjust the stop and the target.
KEY GRAPHIC ELEMENTS
Here are as a reminder the technical elements that we presented on May 06 before the opening:
The action of the IT service provider entered a gap on February 17 within a now well-defined range, between a lower limit (support) close to 47 euros, and an upper limit (resistance) around 51.20 euros. . This last level is very heavily weakened, and crossing it, subject to a substantial increase in volumes, would release additional buying energy.
This is exactly what happened, with one more gap. We are therefore raising our target on value.
FORECAST
Looking at the key chart factors we have mentioned, our view is bullish on SII stock in the near term.
Active investors will take a buying position on the SII stock at a price of €56,200 with a target of €65,000 in sight. They will protect their capital by placing a stop at €52,900.
The News Bulletin 247 board
CHART IN DAILY DATA
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I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.