Nestlé has broken out of the falling wedge pattern on both the price chart and the MACD. On the MACD, it successfully retested the previous resistance level, which has now turned into support, and has since proceeded to form higher highs and higher lows, a clear sign of strengthening momentum.
Based on this technical confirmation, we are officially initiating coverage of Nestlé as a Buy, with the expectation that it can deliver strong long-term returns.
For a deeper explanation of why we selected Nestlé as a compelling investment opportunity, please refer to our previous article:
https://www.tradingview.com/chart/NESN/7k1DyOtG-Nestle-SHOULD-be-in-your-portfolio/
Based on this technical confirmation, we are officially initiating coverage of Nestlé as a Buy, with the expectation that it can deliver strong long-term returns.
For a deeper explanation of why we selected Nestlé as a compelling investment opportunity, please refer to our previous article:
https://www.tradingview.com/chart/NESN/7k1DyOtG-Nestle-SHOULD-be-in-your-portfolio/
Vassilis Kairaktidis
Initium Asset Management
Initium Asset Management
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Vassilis Kairaktidis
Initium Asset Management
Initium Asset Management
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.