X5 Retail Group share price was heavily penalized and is now in an oversold situation near to a solid support area.

Currently the stock is oversold and, in the mid-term, it is trading in a bearish trend. In the short term, this trend is reversed upon contact with the USD 16.75 area. X5 Retail Group should be able to confirm its increase in the next trading sessions. This support is a trading opportunity in order to anticipate a technical rebound towards USD 17.5 and by extension towards USD 18.5.

Active investors can take a long position above USD 16.8. The downside potential is limited and the timing seems good to benefit from a technical rebound. The goals will be fixed at USD 17.5 in a first time and then at USD 18.5. However, a bearish trend would regain the upper hand if the security crosses USD 16.8.