(News Bulletin 247) – A clearly asserted upward dynamic on ESSO shares will invite active investors to position themselves for purchase, as part of a stock transaction. swing trading.
KEY GRAPHIC ELEMENTS
The graphical analysis of daily data of the ESSO share makes it possible to identify an upward trend in the short term as well as in the medium term. Among the dominant graphic factors, we noted the presence of an upward gap in the share prices of the refiner and distributor of petroleum products. Formed on March 21, this very wide quotation gap showed an enthusiasm of the buying camp, especially since on this same session, the technical reading in Japanese candlesticks makes it possible to identify a configuration in white marubozu (or long white). In terms of trend indicators, the 20-day moving average (in dark blue) acts as support for prices. The trading volume is increasing, a technical data favorable to our anticipation.
FORECAST
Looking at the key chart factors we mentioned, our view is bullish on ESSO stock in the near term.
Active investors will take a buying position on ESSO shares at a price of €151,800 with a target of €199,000 in their sights. They will protect their capital by placing a stop at €130,300.
News Bulletin 247 advice
DAILY DATA CHART
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