BNP PARIBAS: triangle exit (PUT P960S)

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From a graphical point of view, BNP PARIBAS is following a downward trend since the break of the major support at 50 EUR, which became major resistance. The courses link the hollows and descending vertices along the 100-period moving average. The prices are currently consolidating in a descending triangle: they are trying to come out from below, raising the trend towards support at 42.30 EUR, 40.70 EUR or 39.30 EUR. The optimal entry price for this scenario is EUR 45.69 and the invalidation is EUR 47.78.

Analysis written on 19/11/2018 at 08:01 (19/11/2018 07: 01: 00Z)
Day By Day – Matthew Driol – Senior Analyst

Short Term

Long term

Trend

NEGATIVE

bearish

Support

42.3

40.7

Resistance

47.77

50

BNP PARIBAS: the uncertainties related in particular to Brexit are strong (PUT P960S)

BNP PARIBAS has been following a downward trend for weeks. The exit from the bottom of a descending triangle stimulates the trend. The technical analysis sets a short-term target at 40.71 EUR with a stop at 47.78 EUR.

The weak points of the value according to AOF

– European regulation consuming in equity and low level of interest rates;
– Increased competition from online banks, major Internet and Telecom companies;
– Legal strengthening of the protection of bank customers (management of intervention fees) weighing on the profitability of retail banking in France;
– Sensitivity to the ups and downs of equity markets (trade war) and bonds (risk of a return to inflation).