Unilever Short Term Update

In the last Unilever article we wrote:

Unilever is approaching a Fibonacci price relationship at 33.30. See chart.¬†Unilever’s uptrend is weakening. One indication of an ending diagonal is decreasing volume (yellow line at bottom). This move will soon be exhausted.

130516 Unilever Fibonacci

Zooming in (see the updated chart below), the final move up is just 0.21 short of the ideal Fibonacci price target of 33.30. The ending diagonal looks complete. First support can be found around 29.50, see cloud volume in chart.

130531 Unilever

 

Leave a reply

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

To avoid spam, moderation is turned on. Before a comment appears the author of the article must always approve the comment.