SocGen (GLE.pa) bearish scenario:The technical figure Triangle can be found in the daily chart of the French company Société Générale S.A. (GLE.pa). Société Générale S.A., colloquially known in English as SocGen is a French-based multinational financial services company. Société Générale is France's third largest bank by total assets after BNP Paribas and Crédit Agricole. It is also the sixth largest bank in Europe and the world's eighteenth. It is considered a systemically important bank by the Financial Stability Board. The Triangle broke through the support line on 02/12/2022. If the price holds below this level, you can have a possible bearish price movement with a forecast for the next 14 days towards 21.785 EUR. Your stop-loss order, according to experts, should be placed at 24.400 EUR if you decide to enter this position.
Societe Generale SA agreed to merge large parts of its equities business with AllianceBernstein, intensifying the French bank’s bid to eclipse BNP Paribas SA in share trading. he Paris-based bank and AllianceBernstein will unite their cash equities trading and research units in a joint venture. SocGen will hold 51% and have the option in five years to buy the whole business, which will be run out of London under the Bernstein name.
The venture signals ambitions to take on BNP Paribas’ strengthened equities offer after the rival French bank took full control of its trading unit Exane and added businesses from retreating rivals.
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