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A clearly assertive update on the Valeo action will invite active investors to position themselves in purchase, as part of an operation of swing trading.
NB: Investors who followed our recommendation dated 05/09 will be able to keep the position, taking care to adjust the stop and the course objective.
Key graphics elements
Classically, the title of the automotive supplier evolves from Range to Range, with successive crossing of resistance, becoming mechanically supporting: 8.39 euros, 9.35 euros, and recently 10.21 euros. While the mobile average at 50 days (in orange) comes once again by day its role of graphic support, and the Bollinger bands are tightening, the graphic entry point is interesting. THE marubozu school, trained on September 17 in thick volumes, supports the Haussier scenario.
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 € 11,025 with a target at € 13,990 in sight. They will protect their capital by placing a stop at € 9,980.
The News Bulletin 247 Council
Daily data graphics
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