(News Bulletin 247) – Continuing the implementation of our hedging strategy with a short sale operation on FORVIA (formerly FAURECIA).
KEY GRAPHIC ELEMENTS
Since the drop on July 27, the stock entered a bear market, confirmed by the reaction base, even technical, until August 21. In terms of trend indicators, the 50-day moving average (in orange) acts as resistance for prices. The technical reading in Japanese candlesticks allows us to identify a black marubozu configuration dating from the session of 03/10/2023. According to Japanese candlestick analysis, black marubozu has negative consequences for prices. On the question of the entry point, it is of quality, after technical reaction to the already exhausted potential, against the 50-day moving average.
FORECAST
Considering the key graphical factors that we have mentioned, our opinion is bearish on FORVIA (formerly FAURECIA) stock in the short term.
The News Bulletin 247 team therefore suggests that active investors bet on this bearish scenario, by short selling the FORVIA stock (formerly FAURECIA) at €17,020 and aiming for a target of €14,010. It is strongly recommended to place a stop order at €19,210.
News Bulletin 247 advice
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