SANOFI SA
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 SANOFI SA listed on the Paris Stock Exchange.
SANOFI SA (SASY.PA)
Sanofi is a healthcare company, focused on patient needs and engaged in the research, development, manufacture and marketing of therapeutic solutions. The stock is listed on the Paris Stock Exchange. Price chart formed a 6 month-long cup & handle continuation with the horizontal boundary acting as strong resistance at 94.80 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 97.50 levels will confirm the breakout from the 6 month-long cup & handle continuation with the possible chart pattern price target of 116.50 levels. The handle part of the cup & handle chart pattern can be identified as a possible ascending triangle with the chart pattern price target of 105 levels. (Data as of 20/07/2020)
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