Medium term view - LEGRAND : The bullish gap opened as prices break out of the pattern announces a rally.
The previous bullish trend has been invalidated, but the level has just been reintegrated. It could be a false signal. The trend is probably still bullish. This will be confirmed by the break above €64.86.The next target is at €72.10. The invalidation level is below €57.75.Arguments...
Legrand is a global specialist in electrical and digital building infrastructure based in France. Co. offers a full range of control-and-command, cable management, energy distribution and "Voice-Data-Image" products and systems which are suitable for the international commercial, industrial, and residential segments of the low voltage market. Co. markets its products under internationally recognized general brand names, including Legrand and Bticino. Each product group is marketed in all of Co.'s major geographic markets (France, Italy, Rest of Europe, USA/Canada and Rest of the World).
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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