Hannover Re : Below a major resistance level
Entry price | Target | Stop-loss | Potential |
---|
€130.7 |
€125 |
€134 |
+4.36% |
---|
After the strong price increase that has been seen over the past few weeks, it appears opportune to anticipate a correction phase for shares in Hannover Rückversicherung, as the resistance around 132.5 EUR approaches.
Strengths● Considering the small differences between the analysts' various estimates, the group's business visibility is good.
● The group usually releases upbeat results with huge surprise rates.
● The company is one of the best yield companies with high dividend expectations.
● Sales forecast by analysts have been recently revised upwards.
● Over the past year, analysts have regularly revised upwards their sales forecast for the company.
● The tendency within the weekly time frame is positive above the technical support level at 118.1 EUR
Weaknesses● Stock prices approach a strong long-term resistance in weekly data at EUR 132.1.
● The stock is close to a major daily resistance at EUR 132.5, which should be gotten rid of so as to gain new appreciation potential.
● According to forecast, a sluggish sales growth is expected for the next fiscal years.
● Most analysts agree on a negative opinion with regard to the stock. Indeed, the average consensus issues recommendations to underperform or sell.
● The appreciation potential seems limited due to the average target prices set by the analysts covering the stock.
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