(News Bulletin 247) – On the basis of a graphical argument, News Bulletin 247 analysts selected MICHELIN for active investors.
KEY GRAPHIC ELEMENTS
Graphical analysis of MICHELIN shares in daily data makes it possible to identify an upward trend in the short term as well as in the medium term. The upward trend is well established, with no obvious slowing movement. In terms of trend indicators, the 100-day moving average (in orange) acts as support for prices. The position can be held on this file in outperformance as long as prices close above this trend line.
FORECAST
Considering the key chart factors we have mentioned, our view is bullish on MICHELIN stock in the short term.
Active investors will take a purchase position on the MICHELIN stock at a price of €36.45 with a target of €40,000 in their sights. They will protect their capital by placing a stop at €34.95.
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.
