The USD 18.9 support, currently tested, should allow X5 Retail Group to rally again.

Technically, the security is in a negative configuration in the short term as the bearish trend of 20-day moving average, currently at USD 19.5, shows. Nevertheless, the stock seems in an oversold situation, near to its USD 18.9 support in daily data. This level might stop the bearish trend in the short term.

Considering technical and fundamental elements, it seems to be an appropriate timing to take immediately a long position in X5 Retail Group in order to benefit from the USD 18.9 support area. A first target price will be the USD 22 resistance and a stop loss order will be placed under the mid-term support currently tested. Only a crossing of USD 22 would validate a bullish trend in order to aim a higher target price.