Sodexo under pressure

feature image
Sodexo, a food services and facilities management company, reported that 3Q revenue dropped 31.2% on year to 3.91 billion euros (-29.9% organic growth). The company added: "We expect Q4 revenues to be down circa -27%, vs our original hypotheses in April of -15%. As a result, the 2nd semester decline is now expected to be -28%, or around 3 billion euro and -13.7% for the Full year."

From a chartist’s point of view, the stock price is oscillating within a symmetrical triangle pattern in place since April 2020. A break below the lower boundary of the pattern currently at 58E would trigger a bearish acceleration towards 48.5E. Alternatively, a break above 70E would call for a reversal up trend.

Source: GAIN Capital, TradingView


Related tags: equities epidemic

Open an account in minutes

Experience award-winning platforms with fast and secure execution.

Sign up for our interactive livestreams

Our interactive livestreams, led by our industry experts, come highly recommended and can help provide your trading with the edge it needs.
Economic Calendar