(News Bulletin 247) – Continuing the implementation of our hedging strategy with a short sale operation on SCHNEIDER ELECTRIC.
KEY GRAPHIC ELEMENTS
The action is in the final phase of the construction of a chartist reversal figure known as round top, typical of a gradual change in polarity. While the remarkable moving averages are now both bearish, and the RSI oscillator is far from its oversold zone, the potential for a decline is complete. Closing the gap on January 4, before the protest reaction, constitutes the preferred scenario.
FORECAST
Considering the key chart factors we mentioned, our view is bearish on SCHNEIDER ELECTRIC stock in the short term.
The News Bulletin 247 team therefore suggests that active investors bet on this bearish scenario, by selling SCHNEIDER ELECTRIC shares short at €153,700 and aiming for a target of €130,100. It is strongly recommended to place a stop order at €161.6100.
News Bulletin 247 advice
DAILY DATA CHART
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