The Unilever Group is considering a strategic realignment, which is giving the share price a strong boost at the start of the new trading week. How should we assess the technical situation of the share in the weekly chart?
Weekly chart
The share of the consumer goods group resets very dynamically today in the area of the intermediate low from spring 2020 around 36 GBP, which acts as an important horizontal support in the medium term.
This level could still be marginally undercut in the coming trading days, but then at the latest, technically conditioned buying interest and the beginning of a bottoming out can be expected.
In the medium to long term, the current weak phase could turn out to be an attractive entry opportunity, but the value should not drop significantly below 35 GBP, otherwise there is a risk of further declines into the lower 30s.
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