Henkel continues its bullish rally to test new highs.

In the third quarter, the company has reported a net profit up 29.3% to 397 millions euros. The operating profit was at 631 million euros, an increase of 16.7% and a turnover of 4.29 billion, up 6.2%.

The security is in an upward trend for several months. A running out of steam is occurred with the contact of EUR 63.9 which is the highest recorded by this share. This movement is supported by the 20-day moving average and may stop any bearish inclinations. Exceeding the EUR 63.9 resistance will indicate a buy signal with a target price in the area of EUR 70.3.

Investors could take a buy position once prices will be above the resistance. A stop loss will be positioned under EUR 61.