(News Bulletin 247) – On the basis of a graphical argument, News Bulletin 247 analysts selected SANOFI for active investors.
KEY GRAPHIC ELEMENTS
After a gap running out of steam on November 15, the stock spent the first half of December in pain, breaking a fragile grade-crazy at 90.50 euros, before resuming an upward direction, initiated on the candle level by an encompassing school, on December 17, according to the established nomenclature. This remarkable candle, with its body, completely covers the red and thin body of the previous candle. Since then, the rise has been confirmed by the crossing of two moving averages, 20 days (in dark blue) and 50 days (in orange). We will also note the power of the volumes on the formation of the bullish engulfing candle mentioned.
FORECAST
Looking at the key chart factors we mentioned, our view is bullish on SANOFI stock in the short term.
Active investors will take a purchase position on SANOFI shares at a price of €99,000 with a target of €110,000 in their sights. They will protect their capital by placing a stop at €94,900.
News Bulletin 247 advice
DAILY DATA CHART
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