(News Bulletin 247) – A clearly asserted upward dynamic on the NEXANS share will invite active investors to position themselves for purchase, as part of a swing trading.
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 channel on NEXANS share prices. We have represented in black this corridor whose upper limit is tested with insistence. 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
Looking at 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 €131,900 with a target of €155,000 in their sights. They will protect their capital by placing a stop at €124,800.
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.
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