Sanofi was correcting from 11/08 from 9275 and it went down to the level of 7435 on 20/12. Since then, it is consolidating in a healthy way. It now seems to be a reversal candidate and uptrend may start soon and strongly.
Chart Pattern:
1. Double Bottom
- It created double bottom with second bottom above the initial
- It created double bottom with positive RSI divergence
2. W Pattern:
If it rounds upside successfully from here, W pattern seems to be in formation
- As per this pattern first target would be top of the trough, i.e., 7930 and then 8350 to the top of W
Retracement:
According to Down side retracement, first target can be 8138 (38.2%), then on 8355(50%) and final strong 3rd resistance would be at 8572(61.8%)
SL: 7400
Chart Pattern:
1. Double Bottom
- It created double bottom with second bottom above the initial
- It created double bottom with positive RSI divergence
2. W Pattern:
If it rounds upside successfully from here, W pattern seems to be in formation
- As per this pattern first target would be top of the trough, i.e., 7930 and then 8350 to the top of W
Retracement:
According to Down side retracement, first target can be 8138 (38.2%), then on 8355(50%) and final strong 3rd resistance would be at 8572(61.8%)
SL: 7400
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.