Bilfinger SE : On historical highs
By Lara Villeneuve
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
€75.62 | €80 | €73.8 | +5.79% |
Turnover was up 5% to 8.48 billion euros, driven by service operations to the industry. Net profit amounted to 222 million Euros and 394 million euros including the sales proceeds. The German group is confident for the current year, margins are expected to increase and the sale of 18 projects of public-private partnerships (PPP) will lead to an increase of EBITDA.
Graphically Bilfinger Berger 's stock follows an upward trend with the 20-days moving average in support. Averages are trending up in daily and weekly data. The short-term resistance contact of 76.65 EUR causes a slowing of upward wave, but the crossing of this level could mark the beginning of a new rise above historical highs.
The short-term resistance crossing of 76.65 EUR will mark the entry point of buying a strategy with a target close to 80 EUR. A protective stop will be positioned at 73.8 EUR.