Short term view - NESTLE : The support has been breached.
The previous low has been broken, the bearish trend is confirmed. The next target is at CHF 73.70. The invalidation level is above CHF 78.50.Arguments :
- The support has been breached.
- The resistance has been reached, it causes the fall.
- The moving average is capping prices.
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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