Buy L'Oreal at 307.40 up to 308.20
CAC-40 constituent and global beauty and cosmetics giant is signaling via it's price action, chart structure, it's intention to make further gains following the breakout seen on 09 November 2020. This breakout to all-time highs was followed by two back-tests which developed a higher low in process and led to a breakout of the minor downward trend (descending triangle) in place since 12 November. During Wednesday's trading session, we saw a strong igniting candle above the 8-day EMA which solidified the share's place above it's most recent pivot. Today's minor pullback is an opportunity to buy, with a medium term view. At the time of publication, the share trades at €307.40.
CAC-40 constituent and global beauty and cosmetics giant is signaling via it's price action, chart structure, it's intention to make further gains following the breakout seen on 09 November 2020. This breakout to all-time highs was followed by two back-tests which developed a higher low in process and led to a breakout of the minor downward trend (descending triangle) in place since 12 November. During Wednesday's trading session, we saw a strong igniting candle above the 8-day EMA which solidified the share's place above it's most recent pivot. Today's minor pullback is an opportunity to buy, with a medium term view. At the time of publication, the share trades at €307.40.