Unilever Share Price as Company Continues to Make Gains in the Markets

Yesterday’s trading session saw the Unilever share price drop by a percentage point. Today, the prices look to continue with the same trend, which is already down by almost a percentage point. 

In the past few months, Unilever has continually outperformed most experts’ expectations. This month, for instance, it is up by 4 per cent. It also closed the month of June strongly, when it rose by over 5 per cent during the closing days of the month. 

To many experts, the rising cost of living and an inflation rate of 9.4 per cent, the highest recorded rate in the past 40 years, was expected to wreak havoc on the company. However, as data continues to show that buyers in the UK are cutting down on their household spending, which is affecting Unilever, its share price has remained stable.

There is also the recent battle with Ben & Jerry’s ice cream operation, where they sold it without consultation. The battle that was expected to drag Unilever in courts of law looks to have been solved amicably. The quickness in decision-making and the company’s strong financial reports have instilled confidence and may be the driving force behind the company’s continued rise in the markets. 

Unilever Share Price Prediction

The chart below shows that despite the recent price drop, the trend still looks bullish. Though I expect the current drop to continue falling until it hits the 3835 price level, there is a high likelihood price will not trade below that level.

I predict prices will bounce from the demand level and continue rising until they hit the June 19 price high of 3977. At that level, there is a high likelihood that we will see prices continue to push further up. Should the current aggressive trend continue, trading above the 4,000 price level is not out of the question. However, if the prices fall below the demand level of 3835, my bullish analysis will be invalidated. You should expect another push to the downside. 

Unilever Daily Chart