The post Unilever heading for a thrust out of bullish triangle appeared on BitcoinEthereumNews.com.

Unilever is a multinational consumer goods corporation. Unilever products include food, condiments, ice cream, coffee, cleaning agents, pet food, beauty products, personal care and more. Founded 1919 by the merger of the Dutch margarine producer Margarine Unie and the British soapmaker Lever Brothers, it is headquartered in London, UK.  Unilever is a part of FTSE 100, AEX and Eurostoxx 50 indices. Investors can trade it under the tickers $ULVR at LSE, $UNA at Euronext Amsterdam and under $UL at NYSE. Corporation Unilever owns over 400 brands. Among them, the trademarks like Dove, Omo/Persil, Knorr, Lipton, Magnum, Rexona/Degree and others. The company products are present in 190 countries. The stock price of Unilever is in a permanent rally from the all-time lows. From march 2020 bottom, one can see a new cycle higher. This might be the final push higher within the larger cycle. Once ended, Unilever should pull back against the all-time lows which will provide again an opportunity to join the success story of Unilever stock price action. In the initial article from October 2021, we have provided with an area where investors can join the rally. As a matter of fact, the price made a dip into 40.36-38.42 area and reacted higher. In the last article from February 2023, we have explained that short term pullbacks should find support in 3, 7 swings. Now, we recognize the overall structure as a bullish triangle. Once ended, a thrust higher should take place. Unilever monthly Elliott Wave analysis 11.14.2023 The monthly chart below shows the Unilever shares $UNA traded at Euronext Amsterdam. From the all-time lows, the stock price is within the larger impulse as wave ((I)). Hereby, Unilever has finished the waves (I)-(III) by printing the all-time high on September 2019 at 57.77. Within the impulsive advance in wave (III), the internals I and III…

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Filed under: News - @ November 19, 2023 11:20 pm