Rheinmetall AG : Perfect timing to aim a technical rebound
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
€32.86 | €0 | €30.4 | -100% |
This valuation is only 6.7 and 6.59 times the two next years earnings.
Technically, the security fell sharply for several weeks. This fall has lead Rheinmetall towards the EUR 31.4 support area which could become useful as a stepping stone for a technical rebound. The target of this bullish trend is the EUR 35 resistance. Even though moving averages are still in a bearish trend, the oversold situation could help a renewed interest in Rheinmetall.
The trading strategy can benefit from the proximity of the strong support currently tested in order to buy Rheinmetall in a good timing. Investors might placed a stop loss order at EUR 30.4 in order to avoid important losses.