Munich Re : Running out of steam as opportunity
November 19, 2012 at 03:31 am
By
Entry price | Target | Stop-loss | Potential |
---|
€124.9 |
€128.2 |
€119 |
+2.64% |
---|
The group enjoys upward revisions in earnings per share and growth prospects. Indeed, the Thomson Reuters consensus expect sales to grow for the fiscal year at 53 billion euros against 49.6 billion euros for the previous year.
Following a bullish wave, the stock now shows a slight decline that should lead towards its EUR 121.9 mid-term support. On this level, remobilization of buyer flows would allow an uptrend in the medium and long term.
Consequently, we expect a decline toward EUR 121.9. The most active investors can buy the share in this area and target a return toward EUR 128.2. A stop loss can be placed under the EUR 120 support.
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