Colruyt Group N.V. : Upward signal on the stock
Entry price | Target | Stop-loss | Potential |
---|
€41.52 |
€0 |
€39.9 |
-100% |
---|
Take advantage of the bullish trend forming above EUR 41.95.
The group is still undervalued as the “enterprise value to sales” ratio shows an attractive valuation of 0.64x for the current year.
Technically, the uptrend in the medium and long term should cover the equity of a major downtrend. In the short term, the stock is doing a breakout of the EUR 40.86/41.95, giving a bullish signal. Therefore, if a technical rebound takes place the target would be fixed near the EUR 44.25 short-term resistance.
Investors should benefit from the signal given to buy the stock with the EUR 44.25 as a target. The stop loss will be triggered below the EUR 40.87 support at EUR 39.9.
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