The EUR 33.3 support, currently tested, should allow Van de Velde to rally again.

The security is in a downward trend in the short term, under the EUR 34.6 resistance area. The trend is also bearish in the mid-term, under EUR 35.7. However, the selling pressure could run out of steam soon. Indeed, whereas the stock shows an oversold condition, the EUR 33.3 medium term support area currently tested might stop the bearish trend in the short term.

Therefore, the proximity of the EUR 33.3 support is an opportunity to take a long position in Van de Velde. The first goal is a return in the EUR 35.7 resistance area, that is a potential of 5.6 %. In fact, the security has to cross this area in order to re-establish a bullish trend in the mid term. A stop loss order can be placed under the support currently tested.