(News Bulletin 247) – On the basis of a graphical argument, News Bulletin 247 analysts selected ALTEN for active investors.
KEY GRAPHIC ELEMENTS
Since mid-March, the engineering and technology consulting company’s stock has been in the grip of its 50-day moving average (in orange). This technical observation is now obsolete. This underlying trend curve, in full inflection, is about to see its 20-day counterpart (in dark blue) collapse on it at a significant angle. Furthermore, prices crossed this trend line (mm50d), on bullish extension, throughout the past week.
FORECAST
Looking at the key chart factors we mentioned, our view is bullish on ALTEN stock in the short term.
Active investors will take a purchasing position on ALTEN shares at a price of €102.9 with a target of €118,300 in their sights. They will protect their capital by placing a stop at €96,600.
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.
