France: Carrefour shares surrender to the moving average strength – Analysis – 19-3-2019

Carrefour shares price faced strong barrier formed by the moving average 55 that consolidates at 18.11, to face the attempt to resume the bullish attack and move to form negative rebound and settle at 16.92 level, noting that stochastic attempt to settle within the oversold areas will support the negative overview for the near term trades until testing the key support 16.30.

We should note that the continuous negative pressures might force the price to break the key support and settle within the bearish channel again and start forming major negative trades in the upcoming period.

The expected trading range for today is between 17.20 and 16.30

The expected trend for today: Bearish