Petro Welt Technologies AG : The uptrend should continue
Entry price | Target | Stop-loss | Potential |
---|
€0 |
€0 |
€17.22 |
+-NaN% |
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C.A.T. oil is in a good configuration to reach its EUR 19.9 resistance.
The company’s fundamentals are still strong. Sales are up + 27.5% for one year. Analysts from Thomson Reuters consensus have revised largely upward their EPS estimates.
Technically, the security shows a bullish configuration on all time scales. Prices are supported by increasing moving averages. In weekly data, 20-week moving average helps the stock to keep its uptrend.
Therefore, taking into account the strong fundamentals and technical patterns, it seems opportune to take a long position at the current price. The first target price is the EUR 19.9 resistance. A breakout of this level will be a new bullish signal for higher target price. A stop loss will be placed under the EUR 16.9 short term support.
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