Aurubis AG : Double bottom in action
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
€46.8 | €0 | €44.44 | -100% |
Technically, in daily data, even if moving averages are still in a downtrend, a double bottom on the EUR 46.25 should stop this bearish trend and allow a technical rebound towards EUR 49.9.
It seems to be an appropriate timing to take immediately a long position in Aurubis in order to benefit from the EUR 46.25 support area. A first target price will be the EUR 49.9 resistance. A stop loss order will be placed under the mid-term support currently tested.