(News Bulletin 247) – On the basis of a graphical argument, News Bulletin 247 analysts selected MICHELIN for active investors.

KEY GRAPHIC ELEMENTS

The graphical analysis of daily data of the MICHELIN share makes it possible to identify an upward trend in the short term as well as in the medium term since the formation of a thin triangle in the heart of summer. In terms of trend indicators, the 50-day moving average (in orange) acts as support for prices. This underlying trend curve is in a bullish acceleration phase (progression of the Vz, ascension speed). The trading volume is increasing, a technical data favorable to our anticipation.

FORECAST

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

Active investors will take a buying position on the MICHELIN stock at a price of €30.30 with a target of €34,950 in their sights. They will protect their capital by placing a stop at €28,190.

News Bulletin 247 advice

MICHELIN
Positive €30,300
Objective :
€34,950
Potential :
+15.35%
Stop:
€28,190
Resistance(s):
32,000 / 37,000 / 40,000
Support(s):
28,200 / 27,090 / 24,900

DAILY DATA CHART

Graph created from the software Prorealtime

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