Unilever rebounds 3% from a major support zone as company claims it will not spin off the food business 📈

Unilever (ULVR.UK) claims that it will 'slim down' a business but will not spin off its food business. This decision was perceived as a positive by shareholders, attracting investors to buy Unilever shares again, at the major support level at 45 pound per share (EMA200, a red line) and 38.2 Fibonacci retracement of the upward wave started in January 2024. Now shares approach 47 pounds per share level, near EMA50, signalling possible sellers activity and test for today momentum.

Source: xStation5

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