DANONE
Long

Buying Danone breakout.

Zaktualizowano
Danone - 30d expiry - We look to Buy a break of 50.81 (stop at 49.58)

Price action has formed a bullish ascending triangle formation.
50.73 has been pivotal.
Posted a Double Top formation.
A break of the recent high at 50.74 should result in a further move higher.
This stock has seen good sales growth.
In our opinion this stock is undervalued.

Our profit targets will be 53.88 and 54.48

Resistance: 50.80 / 52.30 / 53.40
Support: 49.40 / 48.70 / 48.00

Disclaimer – Saxo Bank Group.

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