Coca-Cola Hellenic : Sellers pressure likely to dominate
By Etienne Veber
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 1,371 | GBX 0 | GBX 1,431 | +100% |
The stock remains rooted in a bullish trend in the short term but has found a downward line which stopped the upward movement. On this level, the stock invalidate its positive trend and should go towards its 20-day moving average in the next trading sessions.
Therefore, the most offensive investors can benefit from the technical configuration to open a short position. The objective will be fixed on the GBp 1270 (20-day MA) and then on the GBp 1220 support. Only the breakdown of the downward oriented trendline will invalidate our scenario. The stop loss will be set at GBp 1431.