Peugeot Citroen (UG.FR) Price on key support levels. Good opportunity for enter long with close SL

18.10.2018 / 12:18

Rating:

Peugeot Citroen (UG.FR) - D1

Our expectations: Long-term upward trend and medium-term correction. Movement in the trend channel, the price has reached the lowest channel border, where is concentrated a strong support zone. Good levels of aggressive entry with close stop and good risk/reward ratio.

Indicators:
50SMA over 200SMA confirms that the long trend is still valid.
Demarker below 0.3 in resold values, turn above, will give a confirmation signal for upward imulse.

Price in the area of 23.6% Fibonacci.

SL: 18.70

Alternative Scenario: For now, the price remains below the MAs and between 23.6 and 38.2 Fibonacci. Breakthrough 38.2% Fibo, means breaking a key level of support and deepening the correction.

Trader Georgi Bozhidarov

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Peugeot Citroen (UG.FR) Price on key support levels. Good opportunity for enter long with close SL

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