Fugro has been in a down trend channel since 2014. Right now we are just above the support. I am looking for it to break out on the downside and buy in at a price of 7.00EUR. After this breakout I see it bounce back to 7.70 within a 1-3 weeks. This means we can book a profit of 10% if it plays out.
In the chart below you can clearly see the trend channel and how it has broken out a few times before.
The indicators in the bottom of the chart are showing Fugro is oversold.
Open date: Order placed
Entry price: 7.00
Target sell: 7.70
Stoploss: 6.75
Risk: Medium
Fugro FUR – Buy order placed at 7.00euro by MakeThatMoneyWork on TradingView.com
