Short term view - Galp Energia SGPS SA-B SHRS : The major support has been reached, it causes the bounce.
The trend is still bullish. No indicator nor pattern are questioning it. The invalidation is below €15.280. The target is at €17.060Arguments :
- The major support has been reached, it causes the bounce.
- The moving average is supporting prices.
Galp Energia is a holding company. Through its subsidiaries, Co. operates in the following segments: exploration and production, with activities relating to exploration, development and production of hydrocarbons, particularly in Angola, Brazil and Mozambique; refining and marketing, which owns refineries in Portugal and also includes activities relating to the retail and wholesale commercialization of oil products; and gas and power, which covers the purchasing, commercialization, distribution and storage of natural gas and electric and thermal power production. As of Dec 31 2014, Co. had proved and probable reserves of 638.0 million barrels of oil equivalent.
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