(News Bulletin 247) – The company has just announced the acquisition of resin-based flooring companies R.SOL and Technical Finishes, which are based respectively in France and South Africa. The group is in a technical uptrend, is very poorly valued compared to its historical average and benefits from positive comments. Indeed, analyst Elodie Rall of JP Morgan considers the stock attractive and recommends it for purchase.
KEY GRAPHIC ELEMENTS
The stock is in an uptrend. The stock has just gained support from its ascending 50-period moving average which coincides with horizontal support. These two elements form a solid base of support from which the uptrend should resume its rights. We can position ourselves to aim for a return to recent high points or even record new annual ones.
FORECAST
Considering the key graphical factors we have mentioned, our view is bullish on SAINT GOBAIN stock in the short term.
Active investors will take a purchase position on SAINT GOBAIN shares at a price of €62,990 with a target of €68,000 in their sights. They will protect their capital by placing a stop at €59,140.
News Bulletin 247 advice
DAILY DATA CHART
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