Medium term view - COVESTRO AG : The moving average is supporting prices.
The trend is momentarily interrupted by a consolidation on a shorter time horizon but prices remain above the invalidation level at €60.25. It can resume at anytime towards the target at €93.15.Arguments :
- Prices are pulling back to the support level (previously a resistance). The rise will resume afterwards.
- The moving average is supporting prices.
Covestro AG is a global supplier of high-tech polymer materials and application solutions developed for these materials. Co. produces precursors for polyurethane foams and the high-performance plastic polycarbonate in addition to raw materials for coatings, adhesives and sealants as well as specialty products, including high-quality films. Other precursors such as chlorine and by-products like styrene are part of Co.'s range of products.
DayByDay is an independent research company providing global macro and single stock analysis, recommendation and allocation based purely on behavioural finance methods. Those include long term cycle analysis, sentiment analysis, and technical trigger. DayByDay serves all clients in need of practical and precise publications to make effective market decisions, on any time horizon, from a few hours to a few years.
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