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by Darius Anucauskas

Osram Stock Is Still Within A Slightly Upwards-Tilted Channel

Looking at the technical picture of the Osram Licht AG stock (ETR: OSR), we can see that the price action, which is taken from around mid-April, is maintained within the boundaries of a tight rising channel. Although that channel is on a fractional incline and we can say that the short-term trend is still to the upside somewhat, we will take a cautiously-bullish stance, at least for now.

In order to get more comfortable with the upside, we would need to see a clear break above the upper side of the given channel. That way, more buyers could see an opportunity to step in and lift the share price further. OSR could then travel to the 43.22 barrier, marked by the low of March 12th, which might stall the stock for a bit. That said, if the buying doesn’t stop there, a break of that barrier may increase the chances for the share price to rise to the 45.37 level, marked by the high of March 13th.

At the moment, the RSI and the MACD, at the moment, are without any clear indication of the next possible direction. The RSI is floating near 50 and the MACD is coinciding with both of its zero and trigger lines. Both indicators seem to be suggesting to stand pat for now.

If OSR drops below the lower side of the aforementioned channel and slides below the 36.55 hurdle, which is the current lowest point of May, that may spook potential new buyers from entering the arena for a while. The stock could then travel to the 34.83 obstacle, a break of which might set the stage for a fall to the 31.76 level, marked by the low of April 8th.

Osram-240

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