ElringKlinger AG : Breakout of the MA20
Entry price | Target | Stop-loss | Potential |
---|
€17.7 |
€0 |
€16.6 |
-100% |
---|
In the past few sessions, ElringKlinger AG shares have suffered from a sharp fall and is now coming back to significant level support.
According to Surperformance© ratings, the company constitutes an opportunity for a trading strategy. Indeed, it usually posts better-than-expected financial statements as in 2014 and and the enterprise valuation conciliates with its visibility.
The security follows a downward trend in the mid-term, under the EUR 19.75 resistance area.
The trend is neutral in the short-term and the breakout of the MM20 should help for a new upward movement. Indeed, whereas the stock shows an oversold condition, the EUR 15.75 has create a "V bottom".
So as to make the most of a potential technical rebound of ElringKlinger, it seems opportune to open a long position at current price. A confirmation of this pattern would enable the security to reach the EUR 19.75 resistance, with a potential gain of 10%. Investors should not insist under EUR 17 and are better of placing a stop loss order under this price level.
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