jueves, 22 de mayo de 2014

NESTLE SA. NESN. Stock analysis. Last Price.70.50chf(-0.28%) 05-21-2014

NESTLE SA. NESN. Stock analysis. Last Price.70.50chf(-0.28%) 05-21-2014
Hi mates, This evening I would like to analyze NESTLE, a swiss company.
Let´s see the Chart.




Supports and Resistances:
S1:68.56 S2:66.88 R1:71.98 R2:74.25
 You can see on the Chart a great rally of this stock. Actually the stock had reached the top of the 3rd Elliot wave, so it´s time to correct. In fact the price is developing the 4rd Elliot wave.
This stock is inside an uptrend channel and is very close to the top. So we should consider to buy in a point close to the support at least.
Today the price has drawn a doji star however i can´t consider it as a reversal pattern.
The MACD is above the signal but is going to cross it soon.
The RSI is at 61% going down.
The stochastic is going down too. and probably will enter into the oversold zone( after the huge rally).
The DMI: +DI is loosing momentum and in a downtrend.
I recomend to buy this stock in the buy range of [68.62;69.84]
once there you can look for those targets to take profit:
TG1:72 Tg2:74.03 TG ext:76.63 
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