Shares in Ebro Foods, S.A. are retreating towards the lower bound of a horizontal trading range. Investors could use the proximity of this support area to initiate new long positions.
Summary
● In a short-term perspective, the company has interesting fundamentals.
Strengths
● The current area is a good opportunity for investors interested in buying the stock in a mid or long-term perspective. Indeed, the share is moving closer to its lower bound at EUR 18.2 EUR in weekly data.
● The close medium term support offers good timing for purchasing the stock.
● Sales forecast by analysts have been recently revised upwards.
● Over the past year, analysts have regularly revised upwards their sales forecast for the company.
Weaknesses
● Most analysts agree on a negative opinion with regard to the stock. Indeed, the average consensus issues recommendations to underperform or sell.
Ebro Foods SA is a Spain-based company primarily engaged in the food industry. The Company's product portfolio includes rice, pasta, cereals and diet products, legumes, as well as organic food, among others. The Company is also involved in the production of soft drinks, pharmaceutical products, animal feeds and biofuels. It markets its products under a variety of brands, such as SOS, Brillante, La Cigala, La Fallera, Saludaes, American Beauty, San Giorgio, 3 Glocken, Skinner, Geovita and Vegetalia, among others. The Company operates through numerous subsidiaries, such as Herba Ricemills SL, Herba Nutricion SL, Panzani SAS, Dosbio 2010 SL, Riviana Foods Inc, Ebro Foods Alimentacion SA, Azucarera Energias SA, Pastificio Lucio Garofalo SpA and Roland Monterrat SA.
EBRO FOODS, S.A. 
