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Schneider Electric The title in a hesitant configuration

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Analysis published on Thursday September 21, 2023

Schneider Electric (SU) is evolving without any real trend, navigating in a range between the support of €152-153 and the resistance of €167. But since August, prices have been dragging in its lower part to the point of getting closer to the moving average at 200 days (MM200 daily). At the same time, the MACD and the ROI remain feverish below their respective waterlines in daily units.

Assuming that €152-153 plays the role of support, prices could move towards the upper part of the range provided they cross the €159-161 zone. It is beyond €167 that the bullish bias would start again. Conversely, a simultaneous sinking below the current support and the daily MA200 would possibly lead to a powerful downward movement towards €142-143.


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