(News Bulletin 247) – On the basis of a graphical argument, News Bulletin 247 analysts selected MERSEN for active investors.
KEY GRAPHIC ELEMENTS
After its warning of 10/24, the action of the graphite materials expert continued its basic downward movement, below a 50-day moving average (in orange) which has not been exceeded in closing data since July 8. It is absolutely not a question of doubting the underlying bearish nature of the configuration, but of identifying a judicious entry point with a view to anticipating a technical reaction of protest. This technical rebound, which may only extend over a handful of sessions, nevertheless has interesting potential in absolute value.
FORECAST
Looking at the key chart factors we mentioned, our view is bullish on MERSEN stock in the short term.
Active investors will take a purchase position on MERSEN shares at a price of €20 with a target of €24,590 in their sights. They will protect their capital by placing a stop at €18,990.
News Bulletin 247 advice
DAILY DATA CHART
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