From a chartist’s point of view, the stock price remains within a bullish channel in place since March low. The 20-day and 50-day simple moving averages remain in support. However, the stock price faces a challenging resistance near 98.6E. A short term consolidation range could take place between 87E and 98.6E. Only a break below 87E would invalidate the bullish trend and would open the way to a drop towards 75E. Alternatively, a push above 98.6E would call for a quick rise towards February’s high at 105.5E.
Source: GAIN Capital, TradingView