Schneider Electric raises full-year guidance
Nicolas Suiffet October 22, 2020 9:25 AM
Schneider Electric, the industrial company, reported that 3Q revenue slid 2.8% on year (+1.3% organic growth) to 6.46 billion euros
Schneider Electric, the industrial company, reported that 3Q revenue slid 2.8% on year (+1.3% organic growth) to 6.46 billion euros and 9-month revenue was down 9.1% (-6.6% organic growth) to 18.03 billion euros.
From a chartist point of view, the stock price remains in a bullish trend, within a short term upward-sloping channel and supported by the rising 20WMA. The weekly relative Strength Index (RSI, 14) is bullish and not overbought. A key support base has formed at 100E (overlap). As long as 100E is support, readers may consider the potential for opening Long positions with 115E and 123E as targets (Fibonacci projection). Alternatively, a push below 100E would open a path to see 87E.
Source: GAIN Capital, TradingView
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