Vivendi S.A.: How about a Swing?Vivendi S.A. CHXEUR:VIVP is bouncing back after it has lost 15.84% since the end of November. It was hovering in a Double Bottom, it's been a while, and it is currently heading towards 20.32, the Double Bottom's objective. A throwback hasn't occurred, yet. A pull back, as a part of a throwback, may send it south towards 19.58, as a momentum building movement ahead of a rally with 20.32 as an objective, and 20 as a primary objective.
The daily Pivot Point is around 19.8. The daily support levels are around 19.74 and 19.64. The daily resistance levels .
The zone between 18.81 and 20.45 will become a CHANNEL, should 20.45 be re-visited. Breaking out 20.45, in this case will send it forth towards 22.14, with 21.39 as a primary objective. Re-visiting 20.45, and failing to breaking it out, will send it back towards 18.81, with 19.67 as a primary objective.
Vivendi S.A. spent most of 2015 in a channel, which it has broken out during August's selloff. The channel's objective was reached last month. Nevertheless, a breakout of the 18.81 support level, which is a very critical level, will send the equity south, seeking 17.22, with 18.27 as a primary objective.
The weekly Pivot Point is around 19.73. The weekly support levels are around 19.56 and 19.28. The weekly resistance levels a 20.01 and 20.18.
