Hello everyone,
So UNILEVER is in a strong down trend since the earnings were published (why, I have no idea).
However I see a divergent in the RSI. RSI goes up, while the trend is going down.
I think that the trend will go up soon, because of the indicator. Hopefully it will break trough the SMMA 20.
My price target will be 3783 GBX, the first resistance....
Could be a good bounce moment, ~42 seems a good bounce area since it was a long term resistance / support. If it goes below 40 I would sell it since it would follow the big head and shoulder pattern and go down hard.
Unilever currently down due to widermarket conditions, investors have been putting money into growth, tech and recovery stocks, now its being dragged down due to wider downtrends. when people look for a safe place to park up, theyll come back to unilever and P&G. Unilever are currently restructuring they're portfolio with they're tea businesses and other areas....
I've initiated a small position on $ULVR.L (Unilever) - If we look at the attached chart price is currently 27% from the high in September 2019. It is currently sitting on a pretty solid support level @ 3888 , however, if this fails to hold the next level isn't far away sitting at @3700
We also have two ascending trend lines (depending on where you draw them)...
NYSE:UL is trading above the 200 MA with a minor downtrend, break of the trend will target around 64$. A close above all-time high will open the way for more gains. A good stock to hold for the long term with high dividends.
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This is only my own view and not financial advice, do your own analysis before...
The company that has brought you amazing products such as Dove soap, Lipton Tea, Ben & Jerry's, Vaseline, and many many more products is presenting a good opportunity to invest in them.
My technicals are showing that they are undervalued with potential bullish divergence.
As I stated, i would be looking for support to be created before i purchase more shares....
The company that has brought you amazing products such as Dove soap, Lipton Tea, Ben & Jerry's, Vaseline, and many many more products is presenting a good opportunity to invest in them.
My technicals are showing that they are undervalued with potential bullish divergence.
As I stated, i would be looking for support to be created before i purchase more shares....
Hi Everyone, In wave theory after an abc corrective structure. We expect the next impulse up or it will develop to be an abcde correction structure either ways the chart is still bullish. As the pattern develops i will keep this idea updated, so like, comment, follow so you don't miss any update. Thank you.
Support and resistance lines seem to show that the share price will increase soon. MACD also backs this up, but am not so sure about this. Looks like a hold until at least the end of the year as I don't know enough to predict where it will end up
Long Unilever at this position split in divergance,
Entered Feb Calls for £49.00 will see it play out and bounce hopefully to £51.00
Will update Weekly
