Crédit Agricole
ACA
Real-time Euronext Paris - 04/23 05:35:03 pm
13.715EUR
+0.96%

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
Live

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.
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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