Short term view - IMERYS : Pull-back over
The trend has been momentarily interrupted by a correction. It approaches the resistance at €81.10, which also is the invalidation level. It should cause a fall and resume the bearish trend. The next target is at €71.84. The invalidation level is below €81.10.Arguments :
- Prices have pulled back to the major resistance level (previously a support). The fall is now resuming.
- The moving average is capping prices.
Imerys is engaged in the production and the processing of minerals. Co.'s operations can be divided into four business groups: Minerals for Ceramics, Refractories, Abrasives and Foundry (minerals mainly for floor tiles, sanitaryware, porcelain, mobile energy as well as high-temperature and abrasive industries); Performance and Filtration Minerals (plastics, rubber, coatings, sealants and adhesives, health, beauty and filtration of nutrition liquids); Pigments for Paper (filler and coating products for paper) and Materials and Monolithics (construction materials in clay and slate and monolithic products and solutions for high-temperature industries).
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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