Short term view - NESTLE : The moving average is capping prices.
The support has been broken, the trend becomes negative as we now have a succession of descending peaks and troughs.The next target is at CHF 80.00. The invalidation level is below CHF 86.00.Arguments :
- The support has been breached.
- The moving average is capping prices.
- Prices are evolving within an descending channel.
Nestle is a holding company which is based in Switzerland. Through its subsidiaries and allied companies, Co. is engaged in the food processing industry. Co.'s product portfolio has seven categories, Powder and Liquid Beverages, Nutritional and Health Science, Milk products and ice cream, Prepared dishes and cooking aids, PetCare, Confectionery and Water.
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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