engineer heart what you want more
No question: The price weakness in recent months in general and the difficult start to the year in particular, make such price trends as the software share a rare phenomenon. Based on the long-term upward trend since the end of 2003 (act. At 20.79 EUR) of technology stocks has first dissolved a rather flat extending wedge and thereafter an inverse shoulder-head-shoulder formation upwards (see chart). After months in which the paper moved sideways, is likely to help the paper to a new upward momentum especially the latter switch position. Additional impetus comes currently from sides of trend following indicators MACD and Aroon confirming with intact buying signals the outbreak described. Theoretically, it can be deduced from the level of the lower reversal pattern imputed a terminal potential of around 11 EUR. Thus, the high should highlight from January 2013 at 35.45 EUR just a stage. As a hedge on the bottom itself offers the neckline of bottoming pattern, which currently runs at 22.77 EUR.
Software AG (Monthly)
This analysis is presented by HSBC Trinkaus.
Here you can sign up for free newsletters.
Important notes on potential conflicts of interest
Legal Notices
No comments:
Post a Comment