Is it time to accumulate EL ?
EL has fallen more than 60% from its peak in Dec 2021. It's latest financial figures reveal a reduction in revenue and profitability. As a market leader in the personal care industry, it is also facing more and more small independent brands that continue to erode its market shares.
The chart shows it has reached a critical support level at 153.20 but I think it is likely to revisit the next support level at 126.23. Let's see how it goes in a few months time.
The chart shows it has reached a critical support level at 153.20 but I think it is likely to revisit the next support level at 126.23. Let's see how it goes in a few months time.
Note
Let the price falls to the 2019 low before deciding to accumulateNote
Now it has come to the price I want ,may nibble some soonNote
resistance at 159 price level proves to be too strong for it to break above so it will hoover around the support level at 126.23 price level for a while.....Note
super negative corporate results with dividends slashed as well......market reacted strongly bringing it down to 20+%
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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.