LANXESS AG : Wait the breakout of the resistance
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
€65.83 | €74.3 | €65.4 | +12.87% |
The high levels of valuation show the interest of investors for this security.
Technically, the stock is moving in an upward trend for many weeks. This movement reflects a buyer enthusiasm confirmed also by the well orientation of the moving averages. The security is going toward EUR 67.5 and would give a strong buying signal if the crossing is confirmed in daily closing.
Therefore, investors will benefit from the signal given by the crossing of the EUR 67.5 resistance to take a long position in the stock. The objective will be set near EUR 74.3. Once the position is opened, a stop loss should be fixed under effective entry point to guard against a trend reversal.