(News Bulletin 247) – A clearly asserted upward dynamic on LEGRAND shares will invite active investors to take a purchasing position, as part of a swing trading operation.
NB: Investors who have followed our recommendation dated September 12 on this same issue will be able to maintain this line by taking care to adjust stop and objective.
KEY GRAPHIC ELEMENTS
The graphical analysis of daily data of the LEGRAND share makes it possible to identify an upward trend in the short term as well as in the medium term, the result of the motivation and the rallying over the duration of the buying camp. Among the dominant graphical factors, we noted the presence of numerous bullish gaps in the recent history of LEGRAND share prices. A string of quotation gaps which constitute a powerful indicator of continued movement. In terms of trend indicators, the 50-day moving average (in orange) acts as support for prices. The trading volume is increasing, a technical data favorable to our anticipation.
FORECAST
Looking at the key chart factors we mentioned, our view is bullish on LEGRAND stock in the short term.
Active investors will take a purchase position on LEGRAND shares at a price of €146.50 with a target of €190,000 in their sights. They will protect their capital by placing a stop at €134,500.
News Bulletin 247 advice
DAILY DATA CHART
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