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DANONE S.A. BULLISH SCENARIO

EURONEXT:BN   DANONE
Technical outlook:

BN .pa bullish scenario:

We have technical figure Channel Down in U.S. company Danone S.A. ( BN .pa) at the daily chart . Danone S.A. is a multinational food-products corporation based in Paris and founded in Barcelona, Spain. It listed on Euronext Paris, where it is a component of the CAC 40 stock market index. Some of the company's products are branded Dannon in the United States. The Channel Down has broken through the support line on 21/05/2021. If the price holds above this level, we can have possible bullish price movement with a forecast for the next 15 days towards 61.47 EUR. The technical correct stop-loss order should be placed at 55.79 EUR if we decide to enter this position.

Fundamentals:
-Danone shares have gained 7% so far this year, outperforming their European sector and supported by speculation around the activist intervention. This followed a 27% fall last year.
-French food group Danone said on Monday it had picked outgoing Barry Callebaut boss Antoine de Saint-Affrique as its new chief executive to lead a turnaround.
-Saint-Affrique had announced on April 22 he was stepping down as CEO of Swiss chocolate maker Barry Callebaut at the end of August, fuelling speculation he could be headed for the top job at Danone .
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