Live monitoring of the Double Bottom setup on EL. See where price is heading.
Reversal pattern after a downtrend.
Bearish continuation pattern.
A clear signal has emerged for Estée Lauder Companies (The) (EL) on the daily chart. With a last close of $80.29, volatility remains active (0.46%). Price action has carved out a classic Double Bottom. This setup is supported by average volume turnover. A potential breakout level is identified at $91.54, targeting $106.25 with support near $84.19 (R:R 2.0).
What is your outlook on EL?