HOCHTIEF AG : Upcoming technical rebound
Entry price | Target | Stop-loss | Potential |
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€0 |
€0 |
€52.3 |
+-NaN% |
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The stock of the first German construction group, has an opportune technical configuration for a short term strategy.
The security benefit, for 4 months, from upward revisions in earnings per share estimates for 2013. Also, the group is low valued with an EV/Sales ratio of only 0.19x for 2013 (sector : 0.4x).
Technically, the bullish trend, in the medium and long term, seems to be confirming with turning up weekly moving averages. However, after falling because of a double top configuration, prices are back to the EUR 53.5 support. This threshold, also, corresponds to the opening of the gap (on 6 May) and to the 50 and 100 days moving averages.
A long position, at the current price, will allow to benefit from a technical rebound towards EUR 55.9, firstly, then EUR 58.2. A stop loss must be placed below the short term support.
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