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The stock is considered defensive by investors and should hold up in times of uncertainty. Goldman Sachs has initiated monitoring of the value and is targeting €71.
KEY GRAPHIC ELEMENTS
Technically the stock is back at a low range and has just formed a candlestick which invites a technical rebound. Indeed, the candlestick here in the shape of a hammer indicates a presence of buyers on the lower limit of this trading range. We can aim for a return to the upper limit of €66. Trading ranges are continuation patterns, so the probability of exit is greater on the upside than on the downside.
FORECAST
Considering the key chart factors we have mentioned, our view is bullish on DANONE stock in the short term.
Active investors will take a purchase position on DANONE shares at a price of €64,100 with a target of €66,000 in their sights. They will protect their capital by placing a stop at €63,120.
News Bulletin 247 advice
DAILY DATA CHART
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