BNP - Return of the uptrend ?

[Zebulon92600]

BNP Stock is moving into a consolidation pattern on a weekly timeframe and the price is currently testing the major support at 46.607. I expect a resumption of the uptrend towards the major resistance at 59.87. We can note the presence of a bullish divergence. We can enter long now with a stop loss below the low at 43,275 or wait an exit of the bearish pattern. The bullish scenario will be invalidated if the support is broken. This will be the signal of a larger correction.

Zébulon, fan of CentralCharts.com

 

[Billy Gates]

Didn't know political parties had shares in them. Wouldn't bank on them long term though, but then again who knows what the political arena holds.

 

[Zebulon92600]

Hello,

I'm not taking account the fundemental analysis even if it's relevant for the long term trend.... But if you know how the manage the risk (stop loss...), you could do only with technical analysis.

About the trade, the rebound has occurred. We must now wait an exit of the consolidation flag for a more sustainable upward movement

Zébulon, fan of CentralCharts.com

 

[Zebulon92600]

BNP is stumbling for several days on the resistance at 49.94 and the price is shaping V-bottom pattern. The breakout of this level would lead to a new bullish wave towards 50.86 and the lower limit of the former uptrend channel.

Zebulon, fan of CentralCharts.com