NORMA Group SE : Resumption of the uptrend
Entry price | Target | Stop-loss | Potential |
---|
€24.59 |
€0 |
€23.3 |
-100% |
---|
After running out of steam near to EUR 27.1, the Norma Group' stock resumes its ascension towards new historical records.
Fundamentals of the company remains strong. Sales estimates from Thomson Reuters are encouraging. Debt is going down as shown by a Debt/EBITDA ratio expected at 0.71x in 2015 against 1.58x in 2012. The valuation of the company remains low with a PER 2013 of 12.79x.
Technically, prices has recently decreased by 12% since mid-mars and are, now, in an oversold situation. The trend is bullish in the long and medium term with increasing moving averages in weekly data. The security is near to its 50-day moving average which could support the stock and lead it towards the EUR 27.1 resistance.
It seems opportune to take a long position at the current price. The first target will be the EUR 27.1 resistance. A stop loss must be placed below the EUR 23.6 short term support.
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