Sun. Jul 14th, 2024

Here is one for my friends in France. Fell on this +5 year chart with monthly candles for Gemalto NV (GTO.PA).

That is one top formation testing it’s breakdown line (support).

gto_m

The weekly candle chart, we can see some noise showing some breaking down action. I guess a question of time… maybe.

gto_w

And now the final zoom with the daily candle chart (1 year). There you can see the consolidation rectangle in progress. This will be the launching pad of the next direction when resolved (up or down).

gto_d

The implied measured move is the arrow (top to bottom of formation) added to the breakdown line. Just set your alerts and wait for the monthly close below it!