Salvatore Ferragamo S.p.A. : The EUR 18.8 for a technical rebound
Entry price | Target | Stop-loss | Potential |
---|
€19.3 |
€0 |
€18.75 |
-100% |
---|
The EUR 18.82 support area, currently tested, might facilitate a technical rebound. The company’s fundamentals could validate this scenario.
In the recent months, the earnings estimates for the next year have been regularly revised upward by analysts.
The security follows a downward trend in the short term, under the EUR 20.15 resistance area. In the mid-term, the trend is neutral. The stock is trading within a range between EUR 18.8 and EUR 23.15. Salvatore Ferragamo is not likely to continue its downtrend because of the strong EUR 18.8 support and the oversold condition.
Thanks to the technical pattern and Salvatore Ferragamo’s strong fundamentals, active investors can open long trades above EUR 18.8. The downside potential is limited and the timing seems perfect to benefit from a technical rebound.
The goals will be fixed at EUR 20.15 in a first time.
However, a bearish trend would regain the upper hand if the security crosses EUR 18.8.
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