Short term view - MERSEN (EX. CARBONE LORRAINE) : Pull-back
The trend is still bullish, but it could slow down. Indicators are overbought. The next target is at €41.95. The invalidation level is below €35.16.Arguments :
- Prices are pulling back to the major support level (previously a resistance). The rise will resume afterwards.
- The moving average is supporting prices.
- The bullish gap opened as prices break out of the pattern announces a rally.
Mersen produces materials and electrical components intended for alternative energies, chemicals and pharmaceuticals, rail transportation, electronics and process industries. Co. divides its operations into two segments: Advanced Materials and Technologies (AMT - Materials), and Electrical Components and Technologies (ECT - Electrical). In addition, Co. produces four types of products: Electrical Applications, Electrical Protection, High-Temperature Applications, and Anticorrosion Equipment. Co. also caters to the process industries, supporting their transition towards greater energy efficiency and boasts an efficient manufacturing base with plants employing the very latest technologies.
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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