(News Bulletin 247) – As portfolio hedging, active investors will be able to initiate a “short” position on the VALEO share, whose chart configuration continues to deteriorate.
KEY GRAPHIC ELEMENTS
The combination of the last three candles, associated with their cumulative amplitude, weakened the consolidation channel, shown in black on the chart below. An exit from below, consistent with the initial, deeply bearish direction, is the preferred option at this stage, with the highly symbolic threshold of 10 euros in sight.
FORECAST
Looking at the key chart factors we mentioned, our view is bearish on VALEO stock in the short term.
The News Bulletin 247 team therefore suggests that active investors bet on this bearish scenario, by selling VALEO shares short at €12,900 and aiming for a target of €10,010. It is strongly recommended to place a stop order at €14,010.
News Bulletin 247 advice
DAILY DATA CHART
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