A pullback is likely as the price touches the upper bound
Strategy published on : 08/08/2017 | 09:42
Entry price : 123.9€
Target : 117€
Stop-loss : 127€
Potential : 5.57%
● The company has solid fundamentals for a short-term investment strategy.
● The group usually releases upbeat results with huge surprise rates.
● For the last week, the earnings per share forecast has been revised upwards. According to recent estimates, analysts give a positive overview of the stock
● Analysts remain confident with respect to the group's activity and, more often than not, have revised upwards their earnings per share estimates.
● Within the weekly time frame the stock shows a bullish technical configuration above the support level at 110.15 EUR
● The share is close to its long-term resistance in weekly data. Therefore, the potential should be limited. However, a further bullish movement when crossing this resistance will be a positive signal.
● The stock is currently in contact with a medium-term resistance that must be gotten rid of so as to resume the upward trend.
● According to forecast, a sluggish sales growth is expected for the next fiscal years.
● For the last twelve months, sales expectations have been significantly downgraded, which means that less important sales volumes are expected for the current fiscal year over the previous period.