French share with a buy signal: Bouygues - A ray of hope on the European stock market!

French share with a buy signal: Bouygues - A ray of hope on the European stock market!

According to a report from stock3.com, Bouygues' French stock is currently showing one of the most constructive charts on the market and is one of the top favorites of a financial expert. The stock is currently trying to give a buy signal at all time levels. Bouygues is a construction group that has been moving sideways for around 10 years. However, there was strong buying pressure last week and the stock broke above the 2022 and 2023 highs as well as the downtrend line. This has activated buy signals on various time frames and could provide the biggest signal to unlock multi-month or year-long upside potential. The financial expert sees the share as attractive for positioning at all time levels.

The possible impact of this situation could be that Bouygues shares continue to rise in the coming weeks and months as the buy signal at different time levels could attract investors. This could also inspire other investors to bet on stocks from the construction and building materials industry, which could lead to an increase in the overall market and the financial industry. The chart patterns since 2021 are constructive and could support the start of an upward move.

There are different price targets for the stock, depending on how the price develops. Short-term targets are EUR 36-37, while medium to long-term targets of EUR 41 and 46 could be achieved. From a chart perspective, it would be critical if the price fell below EUR 30.50.

Overall, the financial expert sees Bouygues shares as attractive for investment at all time levels and believes that it could experience a larger upside. The constructive price patterns since 2021 could support the start of this upward movement.

Source: stock3.com