(News Bulletin 247) – On the basis of a graphical argument, News Bulletin 247 analysts selected LOREAL for active investors.
KEY GRAPHIC ELEMENTS
After a very nice combination of candles from October 19 to 23, in an inverted hammer flanked by two candles with a body located above the body of the central candle, the stock regained its 20-day moving average in satisfactory volumes (in dark blue), trendline which quickly resumed a solid upward slope. The position can be held as long as this moving average gravitates above the 50-day moving average (in orange). Note the quality of the graphic entry point, at the end of the short consolidation.
FORECAST
Looking at the key chart factors we mentioned, our view is bullish on LOREAL stock in the short term.
Active investors will take a purchase position on LOREAL shares at a price of €424,700 with a target of €460,000 in their sights. They will protect their capital by placing a stop at €411,790.
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.
