In the large sector of the Stock Exchange that goes by the name of Manufacturing chain which includes over 50 titles, LUVE occupies a prominent position. In the last year, in fact, only 13 shares have had a positive return and among these we find LUVE which is in eighth place in this special ranking dominated by GEL. Since the beginning of the year, however, things have been worse. The stock, in fact, has lost about 20%, stuck as it is in a very long lateral phase. At this point, when will the LUVE stock come out of the long side phase that has been going on for 3 months?
The problems of LUVE began in December 2021 after having marked an all-time high in the area of € 25.30. From that point a decline began which led to a drop in prices of more than 40%. Descent that was completed at the end of March when a signal from the BottomHunter was triggered which led to an interesting rise of over 50%. From that point on, however, the prices began to move within the trading range of € 18.22 – € 21.02. At this point, only the breaking of one of these two levels could give a directional change to the LUVE prices.
On the downside, the most probable scenario is the one outlined in the figure. In this case, the break of the support in the 18.22 euro area could lead to the achievement of the II natural target in the 13.69 euro area. The maximum bearish extension, on the other hand, could go to the 9.16 euro area.
On the upside, making a bullish projection is very complicated at this time as the bullish reversal has not yet taken place. However, it can be imagined that the most likely target is located in the 25 euro area. Beyond this level, then, scenarios that see the achievement of the 35 euro area could not be excluded.
When will the LUVE stock come out of the long side phase that has been going on for 3 months? The indications of the graphic analysis
The title LUVE (MILLUVE) closed the session on 22 June down by 2.72% compared to the previous session at € 5.69.
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