(News Bulletin 247) – A clearly asserted bullish dynamic on the NEXANS share will invite active investors to take a purchasing position, as part of a swing trading operation.
NB: operators who have followed our recommendation dated April 16 on this same file will be able to maintain the position by taking care to adjust the stop and the objective.
KEY GRAPHIC ELEMENTS
The graphical analysis of daily data of the NEXANS stock 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 on the NEXANS share price. Large, formed on February 15, this “quotation gap” marked a surge in the buying camp at the heart of a bullish channel navigation. In terms of trend indicators, the 50-day moving average (in orange) acts as support for prices. The trading volume is increasing, a technical data favorable to our anticipation.
FORECAST
Considering the key chart factors we mentioned, our view is bullish on NEXANS stock in the short term.
Active investors will take a purchase position on the NEXANS stock at a price of €109.00 with a target of €130,000 in their sights. They will protect their capital by placing a stop at €102,900.
News Bulletin 247 advice
DAILY DATA CHART
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