Linde may rise to 485.00 - 490.00

Our pivot point is at 454.

Our preference

The upside prevails as long as 454 is support.

Alternative scenario

Below 454, expect 444 and 438.

Comment

The RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is above its 20 and 50 day moving average (respectively at 452.685 and 445.1818). Finally, Linde has crossed above its upper daily Bollinger band (465.63).

Supports and resistances

496 **

490 *

485 **

479

465.74 (USD-last)

458

454 **

444 *

438 **

Number of asterisks represents the strength of support and resistance levels.