Short term opinion: Limited rise
Short term Evol.:
Mid term opinion: Consolidation
Mid term Evol.:
Supports: 8,01 / 7,51 / 7,21
Resistances: 9,56 / 9,88 / 10,19
Acerinox ST: the RSI is oversold
Alternative scenario: the downside breakout of 8.01 would call for 7.51 and 7.21.
Our pivot point stands at 8.01.
Our preference: short term rebound towards 9.56.
Alternative scenario: below 8.01, expect 7.51 and 7.21.
Comment: the RSI is below 30. It could either mean that the stock is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and above its signal line. The configuration is mixed. Moreover, the share stands below its 20 and 50 day MA (respectively at 9.02 and 10.26). Finally, Acerinox has penetrated its lower daily Bollinger band (8.56). Acerinox is currently trading near its 52 week low at 8.41 reached on 06/12/18.
Supports and resistances:
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 12-06-2018 at 19:46 UTC+1
Price reference: 8.48 last known on 12-06-2018 at 19:46 UTC+1
Investment horizon: ST
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Legend: * = Intermediate level ** = Strong level *** = Very strong level
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