(News Bulletin 247) – New sell-offs anticipated in the immediate future on WENDEL shares, which active investors will not hesitate to sell short.
KEY GRAPHIC ELEMENTS
The graphical analysis of daily data of the WENDEL share makes it possible to identify a downward trend in the short term as well as in the medium term, since the formation of the bearish gap on July 28. In terms of trend indicators, the 20-day moving average (in dark blue) acts as resistance for prices. The basic trend line, at 50 days (in orange), is in a bearish acceleration phase. The trading volume is increasing, a technical data favorable to our anticipation.
FORECAST
Considering the key chart factors we mentioned, our view is bearish on WENDEL stock in the short term.
The News Bulletin 247 team therefore suggests that active investors bet on this bearish scenario, by selling WENDEL shares short at €72,750 and aiming for a target of €60,100. It is strongly recommended to place a stop order at €77,210.
News Bulletin 247 advice
DAILY DATA CHART
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.
