Also last year the stock used to be always above 200 SMA.
Starting from 26th August it was way too far away from 200 SMA that's why it was consolidating in the last months. In the last days it is moving around it.
Option 1) Given the strong support indication based on volume and movement above 200 SMA the stock could bounce and may go up to test the small resistance again.
If the stock breaks through the resistance there is nothing in the way and the goal would be between 220€ and 230€.
Option2 ) If fails again on the resistance the stock may consolidate within a triangle or even fall through the strong support (Option 3).
The close movement to SMA200 is bothering me a little bit. It could trigger a lot of STOP orders if it falls through.
Considering the MACD it may go up with Option 1.
This is just a personal idea and no recommendation.
Starting from 26th August it was way too far away from 200 SMA that's why it was consolidating in the last months. In the last days it is moving around it.
Option 1) Given the strong support indication based on volume and movement above 200 SMA the stock could bounce and may go up to test the small resistance again.
If the stock breaks through the resistance there is nothing in the way and the goal would be between 220€ and 230€.
Option2 ) If fails again on the resistance the stock may consolidate within a triangle or even fall through the strong support (Option 3).
The close movement to SMA200 is bothering me a little bit. It could trigger a lot of STOP orders if it falls through.
Considering the MACD it may go up with Option 1.
This is just a personal idea and no recommendation.