(News Bulletin 247) – Our analysts have identified an excellent graphic configuration on the FORVIA (ex FAURECIA) share, which the most active investors will be able to work on, at current price levels.
KEY GRAPHIC ELEMENTS
Heavily punished on the stock market since the beginning of the year (-56%), the title of the automotive equipment manufacturer is the ideal candidate for the formation of a frank protest reaction. This technical rebound would take on a more serious air in the event of successive exceeding of the short 20-day moving average (in dark blue, imminent) and its 50-day counterpart (in orange). The correlated study of volumes and gaps will be crucial to give credence to the scenario in the very next sessions.
FORECAST
Considering the key graphic factors we have mentioned, our opinion is bullish on FORVIA (ex FAURECIA) stock in the short term.
Active investors will take a buy position on the FORVIA (ex FAURECIA) share at €8.4420 with a target of €10,350 in sight. They will protect their capital by placing a stop at €7,990.
The News Bulletin 247 council
DAILY DATA CHART
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