Sensient Technologies Corporation : Bearish signal appears
Entry price | Target | Stop-loss | Potential |
---|
$64.53 |
$0 |
$67.2 |
+100% |
---|
The upward trend seems to be running out of steam. The downward trend could recover.
Technically, the bearish trend dominates in the medium and the short term. Indicators highlighted an overbought situation in recent sessions. This indicator shows a limited potential and a probable return on the daily support of USD 61.3.
Therefore, the proximity of the mid-term resistance suggests a consolidation or a correction phase in the coming trading sessions. The most offensives investors could open a short trade in the current price area to target a return on the USD 61.3 support. They should protect the trade with a stop loss set above USD 67.
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