Medium term view - SUEZ ENVIRONNEMENT SA : Major support reinstated
The previous bullish trend has been invalidated, but the level has just been reintegrated. It could be a false signal. The trend is probably still bullish. This will be confirmed by the break above €14.900.The next target is at €17.150. The invalidation level is below €12.250.Arguments :
- The major support has been shortly breached, but it is now reinstated. Prices can bounce.
- The rectangle has been triggered, but the rapid reintegration of the lower boundary hints at a trap. Consequences are bullish.
Suez is active in each stage of the water and waste cycles. Co. is organized around three main segments: Water Europe (water distribution and treatment services, particularly under concession contracts, to individuals, local authorities and industrial clients); Waste Europe (waste collection and treatment services for local authorities and industrial clients; these services include collection, sorting, recycling, composting, energy recovery and landfilling for both non-hazardous and hazardous waste) and International (water, waste and engineering services, with a special focus on risk-management resulting from specific local environments by setting up partnerships).
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