Crédit Agricole
ACA
Real-time Euronext Paris - 07/20 05:35:01 pm
11.43EUR
-0.04%

Attractive timing with a long term view to go long again

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Anaïs Lozach
Analyst

Strategy published on : 04/12/2018 | 09:01

long trade
Stop-loss triggered

Entry price : 13.23€
Target : 15€
Stop-loss : 12.3€
Potential : 13.38%

Crédit Agricole shares reflect an interesting technical chart pattern from a medium term view In fact, the support at 13.17 EUR represents an important technical support area based on weekly price data that could limit downward movements by the stock.
Investors have an opportunity to buy the stock and target the € 15.

Strengths

● The current area is a good opportunity for investors interested in buying the stock in a mid or long-term perspective. Indeed, the share is moving closer to its lower bound at EUR 13.17 EUR in weekly data.

● The close medium term support offers good timing for purchasing the stock.

● The group's activity appears highly profitable thanks to its outperforming net margins.

● Its low valuation, with P/E ratio at 9.99 and 9.19 for the ongoing fiscal year and 2019 respectively, makes the stock pretty attractive with regard to earnings multiples.

● The company is one of the best yield companies with high dividend expectations.

● The average target price set by analysts covering the stock is above current prices and offers a tremendous appreciation potential.


Weaknesses

● The technical configuration over the long term remains negative on the weekly chart below the resistance level at 14.25 EUR

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