Short term view - RALLYE : Pull-back over
The trend has been momentarily interrupted by a correction. It approaches the resistance at €12.66, which also is the invalidation level. It should cause a fall and resume the bearish trend. The next target is at €10.00. The invalidation level is below €12.66.Arguments :
- Prices have pulled back to the major resistance level (previously a support). The fall is now resuming.
- The RSI displays a bullish divergence.
- The moving average is capping prices.
Rallye is a holding company, operating within the specialized food distribution industry through its majority holdings in Casino and Groupe GO Sport. Co.'s main asset, Casino, represents 99% of its consolidated sales; and Groupe GO Sport specializes in retail sporting goods through its GO Sport and Courir brands. Co. also manages investment portfolios with financial assets (LBOs, real estate funds, energy, development capital), and real estate assets (shopping malls and residential developments). Co.'s activities are divided into three segments: food and general retailing (through Casino); sporting goods retailing (through Groupe Go Sport); and financial holdings and investments.
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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