ZALANDO share price analysis - rather weak in the medium term!Hello dear readers,
Teaser: Purchase 🔼 from insiders
Volume: € 39.88 m
Market capitalisation: € 22 bn
Potential: Short
Insiders have been making decent moves on ZALANDO lately. In the long term, this may be a good idea, but what about the short term? Can we possibly get even better entry prices?
Chart-technical assessment
- The share price has been showing slight weakness for some time. The price has left the major trend channel to the downside.
- The current consolidation is developing below the trend channel in the form of a pennant. This formation is considered a trend continuation formation and thus supports the medium-term prospect of further falling prices.
- Wave E has been completed and thus a breakout on the downside should be imminent in the next few days.
The plan
- As long as the pennant is not exited to the downside, I do not expect prices to fall further "yet".
- However, should the formation be exited to the downside, I would like to establish a long position at the price target of this formation, at around 64 points.
- Updates on this idea will follow as soon as facts have been created here.
If you want to support my work I would be happy about a Like & Follow 🙏
Best regards & success!
Chartdigger
