Baloise - BALN• Possible double bottom formation with the first low end of September and second low mid-October
• Second low with slightly less volume than the first low
• Resistance line at CHF 132.40 which were tested in the last three trading days
• MACD crossed the Signal line near the top of the double bottom formation, which is showing a possible trend reversal
• If we finally see a crossover of the resistance line, further upside to CHF 141.10 will be possible (formation target price).
• The target price is slightly below the 23.6% Fibonacci Retracement (CHF 143.50), what could be a resistance this time.
