Akzo Nobel is one of the world's leading chemical producers, listed on Euronext Amsterdam. The upward trend seems to be run out of steam. The downward trend could recover.

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.