Vallourec: return possible on the supports (AT)


Vallourec technical analysis

Synthesis

The MACD is negative, but it is above its signal line: the trend is changing. Now, the MACD needs to cross zero for the upside to continue in the days ahead. The main indicator of the strength of the movement (RSI) shows that the technical situation is quite healthy as there is no overbought. Stochastic indicators do not give clear signals for the days ahead. The volumes traded are lower than the average volume over the last 10 days.

Movements and Levels

From the low at EUR 8.54, the stock is in a technical recovery phase towards its 50-day moving average located at 10.82: the behavior of prices at this level will make it possible to envisage the continuation of the movement in the medium term. To lighten the position, we can wait to test the short-term resistances located at 10.19 EUR and 10.49 EUR. The supports are at 8.34 EUR then at 7.72 EUR

Technical analysis
TendencyCalculated data
Technical advicePositivePrice on 05/088.98
Background trendBearishMM208.95
Bracket 18.34MM5010.82
Bracket 27.72ROI41.14
Resistance 110.19MACD– 0.47
Resistance 210.49Stochastic59.10

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Technical Analysis provided by TEC ©2022. All rights of reproduction and representation reserved. TEC is an analysis of the technical situation of an asset at a given time and which is subject to change at any time. The notions of support and resistance come from the elementary principles of technical analysis. This indicative information does not in any way constitute an invitation to sell or buy. The reader remains solely responsible for their interpretation and for the use of the information made available to them.



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