Short term view - RUBIS : Prices are breaking below the moving average, it is a sign of weakness.
The trend is still bearish, the invalidation level is above €53.80. The target is at €45.40.Arguments :
- The support has been breached.
- Prices made a new low, the trend is well asserted.
- Prices are breaking below the moving average, it is a sign of weakness.
- The measuring gap, opened in the middle of the fall, reinforces the bearish trend.
Rubis is a holding company based in France. Co., through its subsidiaries, is engaged in the bulk import, production or distribution process, and storage of petroleum products in Europe, the Caribbean, and Africa. Co. operates bulk liquid storage facilities for petroleum products, chemicals, fertilizers, edible oils and molasses, and foodstuffs, as well as distributes butane, propane, and petroleum products in wholesale and retail. Co.'s customers primarily include hypermarkets and supermarkets; oil companies; chemists; and traders and intermediaries of fuel, oil or gas, manures, and other liquids.
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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