Akzo Nobel N.V. : A downturn could form
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
€45.23 | €0 | €46.4 | +100% |
Graphically, the stock went through a period of rebound in recent sessions towards the EUR 48.85 medium-term resistance. The share should consolidate near this area. It could act as a stopping point of the upward movement. This scenario suggests a return to the EUR 43 support area which will be a bearish objective.
Therefore, the proximity of mid-term resistance suggests a consolidation or a correction phase in the coming sessions. The most offensive will open a short position close to EUR 48.9 to target a return on the EUR 43 support. It should protect the position with a stop loss set above EUR 48.9.