Nestle explores strategic options – Prices form a symmetrical triangle pattern

Nestle, the food and drink processing conglomerate, said it has decided to explore strategic options, including a potential sale, for the majority of the Nestle Waters business in North America.

Trader 1

Nestle, the food and drink processing conglomerate, said it has decided to explore strategic options, including a potential sale, for the majority of the Nestle Waters business in North America, excluding its International brands. The business achieved sales of around 3.4 billion Swiss franc in 2019, according to Bloomberg.

 

From a chartist’s point of view, the stock price remains stuck in a symmetrical triangle pattern. The 20-day simple moving average started to flatten out. The daily Relative Strength Index (RSI, 14) is around its neutrality are (50%). The breakout of the pattern will provide the direction of the next move. A break below 99.8CHF would open a path to see 96CHF and 93CHF. Alternatively, a push above 108.7CHF would call for a rise towards 113.2CHF.

Source: GAIN Capital, TradingView


From time to time, GAIN Capital Australia Pty Ltd (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.

As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.