SODEXO SA (EXHO.PA)

Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s and global equity indices. The report starts with a review section that highlights the important chart developments on global equity benchmarks. This blog post features from the watchlist section Sodexo SA, listed on the Paris Stock Exchange.

Sodexo SA is a holding company. The Company offers services, such as on-site services, benefits and reward services, and personal and home services. It serves its consumers in approximately 80 countries. The stock is listed on the Paris Stock Exchange. Price chart formed a 6 month-long rectangle with the horizontal boundary acting as strong resistance at 96 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 98 levels will confirm the breakout from the 6 month-long rectangle with the possible chart pattern price target of 106 levels. Breakout from the rectangle chart pattern will also clear the multi-month long downtrend line. Both weekly and daily scale price charts are featured below. (Price data as of 7:30 AM CET 19/02/2019)

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