Munich Re : The mid-term trend could accelerate in few sessions
By Camille Chretien
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
€0 | €0 | €139.6 | +-NaN% |
Technically, the uptrend in the medium and long term should protect the stock of a major downtrend. In the short term, a decline led the share to EUR 142.3, corresponding to a bullish trend line and the 100-day moving average. Therefore, a technical rebound will fix an objective near to the EUR 152.2 short-term resistance, then to the annual high at EUR 158.6.
As a consequence, it is opportune to take a long position at the current price, in order to benefit from a new bullish acceleration towards EUR 158.6 in the medium term. A stop loss will be fixed below EUR 140.