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VIVENDI JUMPS ON RISE IN Q3 SALES - Capital Street FX
Vivendi is currently trading at 21.75-higher by 3.47% as compared to the previous closing. The stock was up 5.1% on yesterday’s close earlier in the session. The stock erased some of its earlier gains during the session.
Vivendi rose today after it reported better-than-expected third quarter sales late on Thursday, supported by growth at its Universal Music Group arm.
The French Media Conglomerate reported that sales had risen 5.5% in the third quarter from a year ago to 3.38 billion euros, beating the consensus estimates of 3.3 billion euros. The company further said that it had no plans to sell its stake in Telecom Italia and that it was lining up banks for a possible sale of part of its Universal Music Group arm.
On the technical front, the RSI is currently at 53.91% and suggests that the market can move in the upward direction. The current price is above the MA5. The current price is above the middle line of the Bollinger Bands and is heading upwards.
Overall Bias is Positive and short-term trades can be initiated with tight Stop Loss and Profit targets.
TRADE SUGGESTION-LIMIT BUY AT 21.65 TAKE PROFIT AT 22.00 STOP LOSS AT 21.45