Puig Brands ataca resistencias y sueña con los 20 euros
Desde los mínimos de mayo, tras el fracaso de la operación de fusión con Estée Lauder, el valor acumula una ganancia del 25%. Leer
Puig Brands has been battling resistance and aims to reach the 20 euros mark. Following the failure of a merger with Estée Lauder, the company's value has gained 25% since May. After a strong rebound in late May, the stock price has been bouncing off the short-term bullish trendline that connected the lows from October last year and March of this year.
Since then, it has been moving towards the significant support zone around 17.19 euros. This zone acted as resistance throughout July and most of August, as expected. On August 24th, the stock successfully broke above the late May support gap, activating a new signal of strength. Currently, the price is attempting to move beyond the important annual resistance from April.
A close with room to spare above that level could signal further strength, especially if it occurs in weekly candles. If that happens, the stock may head towards the vicinity of 20 euros, where the upper edge of a potential bullish channel lies.
Written by urgent.news from Expansion ES's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
