(News Bulletin 247) – Based on a graphic argument, News Bulletin 247 analysts have selected RENAULT for active investors.

KEY GRAPHIC ELEMENTS

Since the double support on a zone of graphic support at 31 euros, the action of the car manufacturer alternates the phases of taking height in powerful and growing volumes (from June 14 to 16, it is telling), and the phases of consolidations sound in their construction and length. The entry point is interesting, as the stock regains support on its 20-day moving average (in dark blue).

FORECAST

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

Active investors will take a buying position on RENAULT stock at a price above €37,815 with a target of €46,000 in sight. They will protect their capital by placing a stop at €34,990.

The News Bulletin 247 board

RENAULT
Positive 37.815 €
Objective :
€46,000
Potential :
+21.64%
Stop:
34.990 €
Resistance(s):
44,100 / 45,000 / 50,000
Medium(s):
36,700 / 34,900 / 31,000

CHART IN DAILY DATA

Graphic made from the software Prorealtime

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