Short term view - EUTELSAT : The falling moving average confirms our opinion.
The trend has been momentarily interrupted by a correction. It approaches the resistance at €20.45, which also is the invalidation level. It should cause a fall and resume the bearish trend. The next target is at €17.13. The invalidation level is below €20.50.Arguments :
- Prices are pulling back to the major resistance level (previously a support). The fall will resume afterwards.
- The falling moving average confirms our opinion.
Eutelsat Communications is a private telecommunications satellite operator involved in the design, establishment, operation and maintenance of satellite telecommunications systems covering a large geographical area (extended Europe (including North Africa and the Middle East), sub-Saharan Africa, parts of America and Asia). Co. provides its customers broadcasting capacity and associated services to transmit TV programmes via satellite, cable or Internet Protocol (IP) networks. As of June 30, 2013, Co. owned and operated 31 satellites in geostationary orbit and 4 satellites in inclined orbit.
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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