STEICO SE : The stock is approaching a major resistance level

01/22/2020 | 03:34am EST

long trade Target price hit

Entry price : 31.3€ | Target : 35.5€ | Stop-loss : 29.2€ | Potential : 13.42%

STEICO SE shares are reaching an interesting resistance zone. The current technical chart pattern suggests that a breach of this level could lead to new upside potential. Investors have an opportunity to buy the stock and target the € 35.5.

Strengths

• Within the weekly time frame the stock shows a bullish technical configuration above the support level at 26 EUR

Weaknesses

• The share is close to its long-term resistance in weekly data. Therefore, the potential should be limited. However, a further bullish movement when crossing this resistance will be a positive signal.
• The stock is currently in contact with a medium-term resistance that must be gotten rid of so as to resume the upward trend.

© MarketScreener.com 2020

	Stocks mentioned in the article	Change	Last		1st jan.
	AMP LIMITED	-0.95%	1.565		0.32%
	BYD COMPANY LIMITED	-1.29%	245.8		20.96%
	STEICO SE	-6.52%	66		18.86%
	THE LEAD CO., INC.	1.69%	842		0.24%

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