Evonik Industries AG : After the accumulation, an upward acceleration ?
| Entry price | Target | Stop-loss | Potential |
|---|
|
€21.88 |
€26 |
€18 |
+18.83% |
|---|
Evonik Industries shares stand out with an interesting technical chart pattern displaying horizontal consolidation. One would assume that the current accumulation phase will cede eventually to an acceleration to the upside.
Summary● The company has strong fundamentals. More than 70% of listed companies have a lower mix of growth, profitability, debt and visibility criteria.
● The company has solid fundamentals for a short-term investment strategy.
● The share is getting closer to its long-term support in weekly data, at EUR 21.8, which offers good timing for buyers.
● Share prices are approaching a strong support area in daily data, which offers good timing for investors.
● With a P/E ratio at 9.52 for the current year and 10.38 for next year, earnings multiples are highly attractive compared with competitors.
● The company is one of the best yield companies with high dividend expectations.
● For the past year, analysts covering the stock have been revising their EPS expectations upwards in a significant manner.
● The average target price set by analysts covering the stock is above current prices and offers a tremendous appreciation potential.
● According to forecast, a sluggish sales growth is expected for the next fiscal years.
● Below the resistance at 26.17 EUR, the stock shows a negative configuration when looking looking at the weekly chart.
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EVONIK INDUSTRIES AG 
