Technical Analysis of Shelly Group (SLYG)
Key Levels:
- Current Level: 36.9-37.3 EUR
- Historical Resistance Level: ~40 EUR
- Previous Low: 32.2 EUR
Technical Picture:
- We observe a classic upward trend formation after a low.
- The distance from the low (32.2 EUR) to the resistance (40 EUR) is approximately 7.8 EUR.
- Following the technical breakout rule, we can expect a similar movement above the resistance.
- This gives a first technical target around 47.8-48 EUR (40 + 7.8).
Time Factor:
- The movement from the low to the current levels has been relatively quick.
- Upon breaking 40 EUR, there will likely be a short-term consolidation.
- Reaching levels of 47-50 EUR could take a few months.
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Disclaimer
The user BigBear has a position in BUL:SLYG. Simply Wall St has no position in any of the companies mentioned. The author of this narrative is not affiliated with, nor authorised by Simply Wall St as a sub-authorised representative. This narrative is general in nature and explores scenarios and estimates created by the author. The narrative does not reflect the opinions of Simply Wall St, and the views expressed are the opinion of the author alone, acting on their own behalf. These scenarios are not indicative of the company's future performance and are exploratory in the ideas they cover. The fair value estimates are estimations only, and does not constitute a recommendation to buy or sell any stock, and they do not take account of your objectives, or your financial situation. Note that the author's analysis may not factor in the latest price-sensitive company announcements or qualitative material.
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