Henkel AG & Co. KGaA : To new upward targets
November 26, 2012 at 03:37 am EST
By
Entry price | Target | Stop-loss | Potential |
---|
€62.88 |
€70.3 |
€60.5 |
+11.8% |
---|
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.
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