Medium term view - TELENET GROUP HOLDING NV : The 38% retracement is causing the bounce.
Prices were consolidating in a pattern. They broke above the highest threshold of that pattern. The trend becomes bullish. The target is at €76.90. The invalidation is below €53.95.Arguments :
- The resistance has been passed.
- The 38% retracement is causing the bounce.
- The moving average is supporting prices.
- The triangle has just been triggered.
Telenet Group Holding is a holding company. Through its subsdiairies and its broadband network, Co. is engaged in the provision of cable television, including television services, broadband internet and telephony services to residential subscribers in Flanders and certain communes in Brussels as well as broadband internet, data and voice services in the business market throughout Belgium and parts of Luxembourg. In addition, Co. is engaged in the provision of mobile telephony services through a mobile virtual network operator partnership with Mobistar NV.
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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