VIRIDIEN (ex CGG): Raising the stop loss and the price target

(News Bulletin 247) – On the basis of a graphical argument, News Bulletin 247 analysts selected VIRIDIEN (formerly CGG) for active investors.

NB: Investors who followed our last advice to buy on this same stock, dated 10/18, will be able to maintain the position by taking care to adjust the stop and the objective.

KEY GRAPHIC ELEMENTS

Here are the technical elements that we compiled on 10/18

“The former CGG, under marked bearish pressure since the validation of a chartist figure on July 29, on marubozu in high volumes, is in the process of reacting upwards, on a protest movement, while a very net is established between RSI (relative strength indicator) and price dynamics And this while the Bollinger bands are tightening, suggesting an increase in volatility.

The start of the dynamic being accompanied by powerful buying volumes, we decided to raise our price target.

FORECAST

Considering the key graphical factors that we have mentioned, our opinion is bullish on VIRIDIEN (ex CGG) stock in the short term.

Active investors will take a purchase position on the VIRIDIEN stock (formerly CGG) at a price of €36.50 with a target of €45,000 in their sights. They will protect their capital by placing a stop at €32,900.

DAILY DATA CHART