I like this company on a fundamental level. besides technical analysis. I think there will be a flood to dividend names soon if/when interest rates go down. bond yield should drop as well and investors want some passive income. Who better to go to then the company that owns the world lol. But on a serious note, this company is over a century old and has weathered many storms, I believe that this could be a bargain for long term investors as well. On the technical side, we have brok the down trend with a new high, I believe this pull back to previous resistance is healthy and needed for a stronger push to 110 and up. Also, check out the RSI, we have not seen a strong RSI on the weekly since 2021, where we had this same type pull back and then bounce up. Goodluck, I will be trading shares on this, SL with a break and hold under support, TP, no clue yet.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.