Technical analysis update: ORAN (16th August 2021)

Orange has been trading sideways for month and half now. RSI and MACD have bullish direction despite price action lacking any trend at the moment (which is reflected in low ADX). Stochastic is also bullish. We think Orange has upside potential in medium and long term. Because of that we would like to set our medium term price target to 12 EUR per share.

Current setup would involve entry above resistance and stop-loss below it.

Disclaimer: This analysis is not intended to encourage buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.

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Medium term price target is supposed to be in USD. We apologize for this mistake.