Engie's stalling momentum signifies turnaround.Engie - 30d expiry - We look to Sell a break of 14.09 (stop at 14.61)
We are trading at overbought extremes.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
Short term RSI is moving lower.
Momentum is stalling with the posting of new highs and indicates bearish divergence.
A higher correction is expected.
A break of the recent low at 14.12 should result in a further move lower.
Our profit targets will be 12.82 and 12.52
Resistance: 14.70 / 15.00 / 15.50
Support: 14.10 / 13.55 / 13.00
Disclaimer – Saxo Bank Group.
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