Legrand (LR.pa) bearish scenario:

The technical figure Channel Up can be found in the daily chart of the French company Legrand (LR.pa). Legrand is a French industrial group. It is one of the world leaders in electrical and digital building infrastructures and connected solutions. Legrand is established in 90 countries and its products are distributed in nearly 180. It generates 85% of its sales internationally. The group has expanded its product range in sustainable development and energy saving technologies, and has developed new products for EV charging/electric vehicles, lighting control and datacenters. The Channel Up broke through the support line on 23/12/2022. If the price holds below this level, you can have a possible bearish price movement with a forecast for the next 17 days towards 71.80 EUR. Your stop-loss order, according to experts, should be placed at 85.88 EUR if you decide to enter this position.

Legrand, a world leader in electrical, digital infrastructure and connected solutions, has announced its acquisition of Encelium, an Ontario, Canada-based manufacturer of advanced commercial lighting controls. The acquisition of Encelium brand and products, which takes effect immediately, comes as part of Legrand's ongoing global strategy to further strengthen its position in the commercial lighting control sector. A leader in this category, Encelium is already an integral component within thousands of buildings, supporting the needs of occupants, tenants, and facilities managers through people-centric lighting and energy efficiency.

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