(News Bulletin 247) – By way of portfolio hedging, active investors can initiate a “short” position on the ALSTOM share, whose graphic configuration continues to deteriorate.

KEY GRAPHIC ELEMENTS

Since the shoulder, head and shoulders pattern from May 16 to July 06, and since the bearish engulfing of July 25 in thick volumes, the action is under strong pressure. The succession of two successive rising high points (June 29 and July 27) did not hold, under the sudden loss of breath of the buying camp.

FORECAST

Considering the key chart factors we have mentioned, our view is bearish on ALSTOM stock in the short term.

The News Bulletin 247 team therefore suggests that active investors bet on this bearish scenario, by selling ALSTOM stock short at €25,350 and aiming for a target of €22,010. It is highly recommended to place a stop order at €26,410.

The News Bulletin 247 board

ALSTOM
Negative 25.350 €
Objective :
22.010 €
Potential :
+13.18%
Stop:
26.410 €
Resistance(s):
26,600 / 27,350 / 28,420
Medium(s):
24,440 / 22,500 / 21,500

CHART IN DAILY DATA

Graphic made from the software Prorealtime

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