Nielsen Holdings PLC (NLSN) has just moved into the Favored zone with a ranking of 125th in the SIA S&P 500 Report. Nielsen Holdings operates as a measurement and data analytics company worldwide. It operates in two segments, Connect and Media. NLSN last was in the Favored zone of this report back in 2016, but has never reached the top decile of the report or stayed a significant time in the Favored zone
Nielsen Holdings has had a nice move upwards over the last month rising over 25% and around 43.5% over the 3 months, but still isn’t positive for 2020 YTD yet which is underperforming the SPX.I by about 15%.
Next potential resistance on trend appears around $22. Support is found around $17.5. NLSN is above both the 50-day and the 200-day simple moving average and had the 50-day cross above the 200-day on November 30th.
Nielsen Holdings PLC (NLSN) has formed a Spread Double Top chart pattern after it broke out above $17.64 and has continued in an upwards move in a column of X’s breaking through the downwards trend line recently. It could stall around $20 temporarily and then move upwards towards resistance found at $21.50 above. Further Resistance can be found at $23.27.
To the downside, support can be found at $18.35 for a 3-box reversal and below this at $17.29 from where it broke out earlier this month. Based on its history, a move above $20 could find this company seeing some consolidation seeing how all of 2019 was spent in the range of around $20-$25.
With a bullish SMAX score of 8, NLSN is exhibiting near-term strength across the asset classes.
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