LANXESS AG : Benefit from the technical rebound
By Sandra Pinturault
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
€0 | €0 | €46.78 | +-NaN% |
The share has a long term bearish configuration but the potential drop is limited by the support area located at EUR 43 in daily data. This level is tested for several weeks and have contained the downward trend, which reinforce its technical significance. A technical rebound was implemented on EUR 46.42 which would allow the stock to reach the EUR 52.9 resistance.
Considering these elements, the timing seems appropriate to buy the share at the current price to reach the EUR 52.9. A stop loss will be set under the EUR 48.4 resistance.