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by Darius Anucauskas

Is Vivendi Stock Positioned For Some Short-Term Recovery?

From the beginning of January, the Vivendi SA stock (EPA: VIV) had been on a gradual slide, trading below a short-term downwards-moving trendline, drawn from the high of January 3rd. Today, the price managed to push above that line, which gives a bit more hope than previously for potential new buyers. That said, for us to get comfortable with the upside idea, we would still like to see a strong push above the 24.89 barrier. This is why we will stay cautiously bullish, at least for now.

If the share price rises above the 24.89 barrier, which is the current high of this week, that would confirm a forthcoming higher high and more buyers could join in. VIV may then get lifted to the 25.02 hurdle, or even the 25.22 zone, which is the high of January 21st. The stock could initially stall around there, or even correct slightly lower. However, if the buyers are still interested in the stock, the price might get another boost and travel to the 25.40 level, marked by the high of January 17th.

Our oscillators, the RSI and the MACD, have recently moved away from their lows and are now showing willingness to climb back up. In the beginning of this week, the RSI moved sharply to the upside, although it seems to be taking a pause now, while sitting slightly below 50. The MACD is also trying to give hope to the buyers, as it has moved above its trigger line, despite being still below zero. Both indicators are somewhat in support of a potential recovery.

Alternatively, if the price falls back below the aforementioned downside line and the 24.64 hurdle, which is today’s low, this might spook new buyers from entering right now. Such action could cause the stock to slide to the current lowest point of January, at 24.40, a break of which might clear the way to the 24.25 zone, marked by the lowest point of December. If there are still not enough new buyers to lift VIV form those lows, this may lead to further declines. That’s when we will aim for the 24.10 level, marked by the high of August 5th, 2019.

Vivendi 4hour


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