Société Générale : Bearish acceleration
Published on 02/21/2013
at 02:49 pm IST
| Entry price | Target | Stop-loss | Potential |
|---|
|
€30.67 |
€0 |
€31.1 |
+100% |
|---|
The FED, through its Chairman Ben Bernanke, announced that the accommodative policy of the institution could not continue at this pace.
The banking sector remains the most sensitive to these market backlash, remember that liquidity injections have supported banks in their purchase of sovereign debt.
Technically, Société Générale share price should be pressured by the downward trend of its 20-day moving average. A break confirmed of the EUR 30 short term support lead the share on the next technical level at 26.4 EUR.
As a result, the most offensive will take a short position on the French bank Société Générale with a target located at EUR 26.4. A stop loss will be set above EUR 31.
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2013
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