France: Carrefour surrenders to the moving average negativity – Analysis – 27-5-2019

Carrefour shares price failed to surpass the moving average 55 to continue forming additional resistance at 17.85, forcing the price to form negative rebound towards 16.63, expecting the price to form new negative waves to suffer additional losses by moving towards 16.05 followed by attempting to reach the key support 15.50.

Also, stochastic release from the overbought areas ends the positive chances against the price, hinting gathering new negative momentum to prepare to resume the negative fluctuation until reaching the suggested negative stations.

The expected trading range for today is between 17.30 and 16.05

The expected trend for today: Bearish