The resistance zone around 2.98 EUR on the weekly chart shuold rein in spikes to the upside. The timing to get ahead of the start of a correction in shares of CGG seems very opportune. Investors should open a short trade and target the € 2.59.
For a short-term investment strategy, the company has poor fundamentals.
Over the last seven days, analysts have been revising upwards their EPS estimates for the company.
For the last twelve months, analysts have been gradually revising upwards their EPS forecast for the upcoming fiscal year.
Within the weekly time frame the stock shows a bullish technical configuration above the support level at 1.99 EUR
Stock prices approach a strong long-term resistance in weekly data at EUR 2.98.
Technically, the stock approaches a strong medium-term resistance at EUR 3.03.
With relatively low growth outlooks, the group is not among those with the highest revenue growth potential.
The company sustains low margins.
Prospects from analysts covering the stock are not consistent. Such dispersed sales estimates confirm the poor visibility into the group's activity.
Financial statements have repeatedly disappointed market stakeholders. Most often, they were below expectations.
For the last four months, EPS estimates made by Standard & Poor's analysts have been revised downwards.
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