Unicredit broke trendline at 2.30 area. Good RR for a long trade towards 2.8
changing in Unicredit long term trend
Unicredit is the next European Bank to stage an impressive base breakout. EU Banks are at a turning point, outperforming, and have a lot of catch-up to do. Technicals look great. Unicredit appears to move into a vacuum and I see immediate upside into 2.75/.77 I'm a chart analyst, not a fundamental analyst, but here are a few thoughts what could drive EU Banks...
QUANDL:EURONEXT/UCGM Safe Trades;
SIGNA TYPE: SHORT ENTRY POINT: 1° tranche = 2,640-2,610 euro 2° ENTRY POINT: 2° tranche = 2,740-2,710 euro STOP LOSS >= 2,916 euro TAKE PROFIT 2,250-2,200 euro
The level of 2.80 Euro represents an important support in the medium term; if fall below that level, the first target is positioned in area 2.30 Euro, then 2.00 euro.
Bullish on Unicredit up to SMA 20. RSI oversold, Price on multiple support. Buy again if 5.28 is hit