With the Corona Virus outbreak we expect L'oreal to pull back after earnings , there are some concerns on how much impact the Corona Virus will have on L'oreal bussiness in China (which had a strong growth previous year).
We agree that the fundamentels off L'oreal are strong but the techincals are not looking that great, we had a false breakout on the daily chart after earnings & the RSI is looking overbought on the larger time frames. That's why we are expecting some profit taking next week.
We will start looking for shorts on Monday.
Short entry on a gap up: 272.5
Short entry on a gap down: 268.8
Short term cover area : 264
Good luck & i keep you guys updated
We agree that the fundamentels off L'oreal are strong but the techincals are not looking that great, we had a false breakout on the daily chart after earnings & the RSI is looking overbought on the larger time frames. That's why we are expecting some profit taking next week.
We will start looking for shorts on Monday.
Short entry on a gap up: 272.5
Short entry on a gap down: 268.8
Short term cover area : 264
Good luck & i keep you guys updated
Nota
Looks like we are gapping around at 272.50 , will watch the level 2 closely to determine my short entryTrade attivo
We triggered a short from 269.8Trade attivo
Add some more short at 272.5
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Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.