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The automotive sector signed a clear increase last week, brought by the trade agreement between Japan and the United States limiting customs duties to 15%, thus avoiding heavier surcharge. This tariff relaxation reassured a market worried about trade tensions and supported the entire sector. Valeo took advantage of this announcement and should thus capitalize on it during the next sessions.
Key graphics elements
Technically, the title forms a bullish recovery candle, characterized by an impulsive candlestick supported by a relative volume greater than the average of previous sessions. The withdrawal observed on the daily mobile average at 20 periods is an interesting entry point, with a return objective towards 11 euros.
FORECAST
In view of the key graphic factors that we mentioned, our opinion is bullish on the Valeo action in the short term.
Active investors will take a position on purchase on the Valeo title during € 10,000 with a target at € 11,000 in sight. They will protect their capital by placing a stop at € 9,130.
The News Bulletin 247 Council
Daily data graphics
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