VALEO, I have a dreamValeo was being hit severely and it may keep on march lower but in case I see the move below the triangle and back. In case it occurs the shot up can be fruitful.
Valeo
VLEEY - VALEO - LiDAR Driving the Autonomous VehiclesVLEEY
ENTRY = 17 - 20
CAD = 618@14.80
HODL 26+
EV LiDAR PLAY - Playing a Major Role in Tomorrow's Mobility
www.valeo.com
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Good luck, happy trading and stay chill,
2degreez
VALEO UP OR DOWN ?Valeo is in an uncertain position for the moment, but we'll keep that in mind with the short-term supports and resistances
Morning star on Valeo $FPA beautiful morning star pattern can be observed on Valeo on the descending support. This pattern is generally very powerfull. A gain of 15% is probable with this pattern a break of the resistance canal is also possible with higher gains...
VALEO - Is it the right time to enter ?On January 18, EURONEXT:FR stock price was around 66€, close to its all-time high. 9 months later, Valeo has been almost divided by 2 with the formation of a very specific type of technical price pattern. The "Dead Cat Bounce"
As defined by Helen Alpino, the dead cat bounce comes a time in a downtrend when bear traders decide to take profit. Bull traders believe that the downtrend has come to an end and that the bottom has been reached. This is what we have seen from March to May 2018 with a 50% retracement.
Technically, we can also clearly identified the Elliot Waves and we can now consider that we are in wave 5 . The fibonacci extension of Wave 1 is around the 2/2,272 which confirm the end of Wave 3. Finally, volumes are in increasing since June 18.
From now, several options can appears:
1. Wave 5 finishes the down trend around the support area (tested 2 times as you can see on the chart and we could expect a strong reaction.
2. We consider the Wave 1 to project the Wave 5 end which give us target around 27€
Q3 results (forecasted for end of October), strongly awaited by the market, will definetly give the trend for the next months.
My recommandation : Remain attentive to EURONEXT:FR . We arrive on the downtrend end where we could face a strong bull reaction
