LEO.DEL daily chart trend bearish, short-term correction.
We compare the stock with the movement of the German index DAX 30. From the graph it is clear that the campaign is moving very slowly in upward movements and much more strongly in the low to middle power in the market.The stock makes it increasingly lower highs versus the DAX and deeper bottoms. That's why the stock it is only suitable for short positions.
Fibonacci retracement to 23.6% of downward movement
Price action: Engulfing Pattern: sword swallowing - probably signal a new downtrend
Break diagonal support
Indicators: RSI crossed below 50
New lower short-term bottom
Alternative scenario:
Only the passing of price above the resistance 31.34 will negate the negative trend.
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