Brenntag SE : On the lower trend line
By Florian Girard
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
€56.5 | €0 | €54.2 | -100% |
The firm has an excellent Surperformance© rating that emphasize the business predictability and the quality of financial releases. Forecasts are encouraging, EBITDA and net income should display a 2 digits growth in 2015.
Technically, the stock has been in a bullish trend for many months. Nevertheless, a contact on the EUR 58.9 resistance brought the share back on its lower trend line. This threshold and the support of the rising 50-day moving average, should launch a surge toward the EUR 58.9 area.
Consequently, investors may open a long position at current prices and target the short term resistances (EUR 58.9). A stop loss order should be set at EUR 54.2.