Trading ideas for L’Oreal SA (EURONEXT) 22.10.2019

The stock is trading in an upward price channel in the range of its lower border. The support level of 237.0 held back sellers.

A bullish divergence has formed on TF H1 of Awesome Oscillator indicator, and Stochastic Oscillator signals oversoldness. The nearest resistance level is 239.50.

Trading recommendations:

Buy strictly above the resistance level of 239.50.

Stop Loss below the support level of 237.00.

Target levels - 242.00; 246.50; 249.00; 255.28.