Deconstructing Alstom! We look to Sell at 21.65 (stop at 22.65)
Short Term - We look to Sell at 21.65 (stop at 22.65)
A shooting star has been posted as prices reject the higher levels. Posted a Bearish Outside candle on the Daily chart . Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 21.65, resulting in improved risk/reward. We have a 61.8% Fibonacci pullback level of 18.76 from 16.36 to 22.65.
Our profit targets will be 19.00 and 17.65
Resistance: 21.65 / 22.65 / 25.00
Support: 20.00 / 19.00 / 16.36
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