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
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.
Unilever has formed a small base on the daily chart inline with major support. There is also bullish divergence on the RSI and we believe scope for a bounce towards 3400p in the short term.
We could see this grind towards the target over the Christmas period.