Allianz SE : The uptrend is back
Entry price | Target | Stop-loss | Potential |
---|
€109.15 |
€0 |
€106.9 |
-100% |
---|
Allianz' stock was up 4%, on 23 April, thanks to analysts expectations about a possible decrease of the ECB's key rate next week. This rebound may be confirmed in the next trading sessions.
The company's fundamentals are interesting. Despite the Thomson Reuters' consensus which expects a slight decrease in sales for the coming years, EPS estimates have been revised upward. Furthermore, the valuation is very low with a PER of 9.09x and an EV/Sales ratio of 0.61x for 2013.
Graphically, the trend is bullish on the medium and long term. After the stock ran out of steam, in March, the 23 April trading session allowed prices to breakout the EUR 108.3 pivot point. Thus, the security, now supported by the 100-day moving average, may resume its bullish trend and comeback to the EUR 113.4 resistance.
Thanks to the low valuation of the share as well as technical elements, it seems opportune to take a long position at the current price. The main objective will be the EUR 113.4 resistance. A stop loss must be placed below the EUR 108.3 pivot point in order to avoid the continuation of the bearish trend.
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