Sanofi - 30d expiry - We look to Buy a break of 88.01 (stop at 84.48) Previous resistance level of 88 broken. Our short term bias remains positive. Previous resistance, now becomes support at 88. 50 1day EMA is at 86.97. Support is located at 88 and should stem dips to this area. Daily signals are mildly bullish. Our profit targets will be 96.72 and 97.72...
1. rsi going up 2. macd about to cross its lines 3. price getting consolidated 4. correction waves are done 5. volume increasing i have no reason why sanofi will fall. one can take trade during this time, and do swing trade TARGET- above 7800. one can even go long term, as this is the most bottom part of Sanofi, and you will getting benefitted later. BUY AND HOLD.
when the waves get completed one could make profits within a short duration. Sanofi is a great company with a good fundamentals, due to FII selling heavily and earnings not reaching the estimate, it has corrected a lot. its gaining volume, and RSI indicator also showing a bull trend coming nearer.
After assessing Sanofi both technically and fundamentally my position on it is a strong buy.