(Finance) – Effervescent Valvolinewhich trades with a decidedly positive performance of 2.66%.
The stock of the US company, which produces and distributes, in particular, lubricants such as motor oil and additives, ignores the downgrade decided by JP Morgan, aligning itself with the good performance of the American market. In detail, the experts of the research department have revised the recommendation on the Valvoline share downwards, bringing it to “neutral” from the previous “overweight”.
The one-week trend Valvoline is more sluggish than the trend ofS & P-500. Such a breakdown could trigger opportunities for the market to sell the stock.
The technical scenario of Valvoline shows a widening of the descending trendline at the test of the USD 29.4 support with the resistance area identified at 30.77. The bearish figure suggests the likelihood of testing new identifiable bottoms in area 28.5.