Up first is Sanofi (SNY - Get Report), the $132 billion French pharmaceutical firm. You don't need to be an expert technical analyst to figure out what's been going on in Sanofi. A quick glimpse at this stock's chart will do.
SNY is currently forming an uptrending channel, a trading range that's bounded by a trend line resistance and trend line support level. Those support and resistance levels give us a high probability range for Sanofi's stock to trade within. And as you might expect, the ideal time to be a buyer is on a bounce off of support.
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