Societe Generale (GLE) - Full Target Reached - Close Trade
Today, SocGen has reached my full target of 26.39, which is also the close of the gap. This trade can now be fully closed for a 39% return over a 3-month period.
Original Idea published to clients on 16-February-2021
Medium Term View | A strong, 11-month base breakout for the French Bank. The €18.25 to €18.40 level has acted as a supply zone throughout the period however, yesterday’s price action is positive following nearly 3 months below resistance. The measured upside move projects a target of €26.39 (TP 1), which is also where the price could close the the gap left on 27-February-2020. Stop-loss: 16.80.
Original Idea published to clients on 16-February-2021
Medium Term View | A strong, 11-month base breakout for the French Bank. The €18.25 to €18.40 level has acted as a supply zone throughout the period however, yesterday’s price action is positive following nearly 3 months below resistance. The measured upside move projects a target of €26.39 (TP 1), which is also where the price could close the the gap left on 27-February-2020. Stop-loss: 16.80.