Orange S.A. (ORANY), a $39 billion corporation, is a major French telecommunications company operating in over 25 countries, with particularly strong markets in Europe and Africa. Formerly known as France TƩlƩcom, the company rebranded in 2013 and now offers a broad range of services, including mobile, internet, TV, cloud computing, cybersecurity, and financial products like Orange Bank and mobile money. Recognized for its innovation, Orange is a key player in the advancement of 5G, AI, and digital inclusion, especially across the African continent.
Shares of ORANY have been outperforming in recent months, steadily climbing the SIA Relative Strength Matrix within the SIA ADR Index Report, where they now rank at position #10, well within the favored zone. Over the past month alone, shares have risen by 12.71%, bringing the year-to-date gain to 46.66%. In the process, ORANY broke through a long-term resistance level at $12āa price not seen in 24 years, since 2001āall while U.S. equities were experiencing a sharp selloff. This breakout is clearly illustrated in the attached candlestick chart, scaled with monthly candles, where the breakout is circled in green.
The accompanying point and figure chart, scaled at 5%, offers a clear long-term view of the resistance that had built up at $12.28, a level where buyer momentum repeatedly stalled. However, the strong performance in March and April saw shares push decisively through this barrier, allowing for new resistance levels to be mapped out. Sellers may reemerge at these levels, but the broader technical outlook has improved significantly.
Telecommunications Services is now one of the strongest sectors in terms of relative strength, and the SIA SMAX score for ORANY stands at a perfect 10 out of 10. Looking at the updated support and resistance levels, point and figure resistance could projected at $16.46, $19.05, $25.53, $37.72, and $48.14, while support might be expected at $11.69, $10.10, and $9.16āoffering a potentially favorable risk-reward profile for advisors seeking international exposure for their portfolios.
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