[SAF] French Stock ReversalOn this very strong French Stock I waited this level for a long time and it has been my main profit level from years ago. Now I am looking for a corrective move to then enter back on it for the long terme.
I am now trying to play the short side of the correction on the TLB anticipation. This is my first entry and try, let's see next week if I have to adapt and modify my entry point to re-enter later ... strong conviction on this one.
Great Trade !
4SAF trade ideas
Safran SA (SAF.pa) bearish scenario:The technical figure Pennant can be found in French company Safran SA (SAF.pa) at daily chart. Safran S.A. is a French multinational aircraft engine, rocket engine, aerospace-component and defense corporation. Employing over 95,000 people and generating 24.64 billion euros in sales in 2019, Safran operates in the aircraft propulsion and equipment, space and defense markets. The Pennant has broken through the support line on 20/10/2021, if the price holds below this level you can have a possible bearish price movement with a forecast for the next 7 days towards 105.90 EUR. Your stop loss order according to experts should be placed at 117.22 EUR if you decide to enter this position.
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Will SAFRAN Stock still in trading range ?Safran Stock is in trading range since beginning of June. Next days could be decisive to have a clear view (Buy or Sell).
In any case, if stock price is going up, it will have as first goal 103.3 level, maybe 115.3 if first level is broken with high momentum.
Safran SA (SAF) - Bears waiting for opportunity to take overSafran SA (SAF - France) is in ABC correction down in 60 min time frame (or impulse wave (C) wave down in 4 hr time frame). It has completed 1st wave of C down in leading diagonal structure and correcting in 2nd wave up in abc wave and b is in progress, so wait for its completion with invalidation level of 98.10. Thereafter 3rd wave of C wave start falling down. In weekly time frame, it is in abc correction downside from all time high. Let’s see how chart unfolds next.
SAFRAN - buy pullbackAeronautics and luxury are the driving force of the french index, among the strongest bluchip index in Europe up 26.5% in 2019.
Safran 10% pullback on rising trendline is buying opportunity. Support at 134.9, and 131 (gap fill).
Bull trend is intact: rising 200D MA, and ichimoku cloud an dtrend channel.