Great buy opportunity for ULVR at current levels, weekly stick looks to be shaping a low test candle, fantastic fundamentals with many brokerages raising price targets.
Look to take stock up to rent highs with small risk. 1:2.8 risk reward
Unilever is in reverted head (h) and shoulders (s1 and s2), the neckline (n) has been broken and price is consolidating over the neckline. The first objective is o1, the second is o2.
I will be looking to enter a long on a retest of last resistance, after a double bottom and break. The green box is my buy zone. Indicators all look strong with RSI (21) hovering around the 50 mark.
I will watch to see how this one plays out.
Even though this support of unilever has only been tested once, Fundementaly unilever cannot break this support. After the failed attempt of Kraft-Heinz aquisition unilever dropped from 52 Eur to 42 Eur. Weak dollar cut the profits of unilever a little but if supp breaks hold on for long term. dividend increased from 2,8% to 3,5% becouse of price drop.
