Short term view - EDENRED : Resistance reinstated
The trend is still bullish, the invalidation level is below €27.30. The target is at €30.00.Arguments :
- The resistance has been shortly breached, but it is now reinstated. Prices can fall.
- Prices made a new all-time-high, this confirms the strength of the trend.
- The moving average is supporting prices.
- Prices are within a rectangle, but the trend will eventually resume to the upside.
- The bullish gap has been tested, the rally resumes.
Edenred designs and delivers services to clients, companies or public sectors, enabling them to offer beneficiaries additional purpose-directed purchasing power, such as the Ticket Restaurant® meal voucher, and provides prepaid corporate services. Co.'s product offering ensures that allocated funds are used as intended, allowing its clients to manage: Employee benefits (Ticket Restaurant®, Ticket Alimentacion®, Ticket CESU, Childcare Vouchers®, etc.); Expense management process (Ticket Car®, Ticket Clean way®, Repom®, etc.); and Incentive and rewards programs (Ticket Compliments®, Ticket Kadeos®, etc.). Co. also supports public institutions in managing their social benefits programs.
DayByDay is an independent research company providing global macro and single stock analysis, recommendation and allocation based purely on behavioural finance methods. Those include long term cycle analysis, sentiment analysis, and technical trigger. DayByDay serves all clients in need of practical and precise publications to make effective market decisions, on any time horizon, from a few hours to a few years.
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