Brenntag SE : The EUR 115.4 support area is tested
Entry price | Target | Stop-loss | Potential |
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€0 |
€0 |
€113.4 |
+-NaN% |
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In the past few sessions, Brenntag shares have suffered from a sharp fall and is now coming back to significant level support.
According to Surperformance rating, the company is an opportunity for a trading strategy. Indeed, it is a good compromise between its value and its visibility.
Technically, in daily data, even if moving averages are showing a neutral trend, a positive reaction in the EUR 115.4 area should stop the last bearish movement. In fact, the short term support combined with a bullish trend line will help the success of this scenario. Moreover, the weekly technical configuration is showing an upward trend with well oriented moving averages.
So as to make the most of a potential technical rebound of Brenntag, it seems opportune to take a long position at the current price. A confirmation of this pattern would enable the security to reach the EUR 119.6 resistance, and then EUR 124. Investors should not insist under EUR 113 and are better off placing a stop loss order under this threshold.
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