Hannover Re : Continuation of the bullish trend
January 18, 2013 at 03:23 am
By
Entry price | Target | Stop-loss | Potential |
---|
€59.52 |
€0 |
€56.9 |
-100% |
---|
Hannover Rueckversicherung, listed on XETRA Franckfurt, is trading in a bullish trend and several arguments argue for the continuation of this trend.
The company’s fundamentals are still strong. Sales are up + 8.8% for one year. Analysts from Thomson Reuters consensus have revised largely upward their EPS estimates.
Prices are well-oriented for a long time. The reversal should continue in the coming trading sessions. The 20-day moving average should help to break the EUR 60.1 resistance.
Thanks to these good indicators, it seems relevant to take a long position in Hannover Rueckversicherung at the current price. The target price will be set at EUR 62.5. A stop loss will be placed under the EUR 57.65 short term support because a breakdown of this level would damage technical pattern.
The content herein constitutes a general investment recommendation, prepared in accordance with provisions aimed at preventing market abuse by Surperformance, the publisher of MarketScreener.com. More specifically, this recommendation is based on factual elements and expresses a sincere, complete, and balanced opinion. It relies on internal or external data, considered reliable as of the date of their release. Nevertheless, this information, and the resulting recommendation, may contain inaccuracies, errors, or omissions, for which Surperformance cannot be held responsible. This recommendation, which in no way constitutes investment advice, may not be suitable for all investor profiles. The reader acknowledges and accepts that any investment in a financial instrument involves risks, for which they assume full responsibility, without recourse against Surperformance. Surperformance commits to disclosing any conflict of interest that may affect the objectivity of its recommendations.