Short term view - ENGIE : Prices are breaking below the moving average, it is a sign of weakness.
The trend is momentarily interrupted by a consolidation on a shorter time horizon but prices remain below the invalidation level at €14.100. It can resume at anytime towards the target at €12.120.Arguments :
- Prices are pulling back to the resistance level (previously a support). The fall will resume afterwards.
- Prices are breaking below the moving average, it is a sign of weakness.
- The first target of the rounding top has been reached, nonetheless, as the pattern reversed the trend, the fall may continue.
Engie is an industrial group, based in France, active in the fields of gas, electricity, energy services and the environment. Co. is an energy provider across the entire energy chain, in electricity and in natural gas, including: purchase, production and commercialization of natural gas and electricity; transport, distribution, management and development of major natural gas infrastructures; design and commercialization of energy services and environment-related services. Co.'s activities are conducted through five segments: Energy Europe, Energy International, Global Gas and LNG, Infrastructures, and Energy Services.
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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