Short term view - PORSCHE : Pull-back
The trend has been momentarily interrupted by a correction. It approaches the support at €63.80, which also is the invalidation level. It should cause a bounce and resume the bullish trend. The next target is at €80.40. The invalidation level is below €63.80.Arguments :
- Prices are pulling back to the major support level (previously a resistance). The rise will resume afterwards.
- The moving average is supporting prices.
Porsche Automobil Holding is an investment holding company. Co. is engaged in, among others, the development, design, manufacture and distribution of vehicles, engines and other technical or chemical products as well as parts and components; the provision of advice in the area of development and production, primarily in the area of vehicle and engine construction; the provision of advice on and development of data processing as well as the creation and distribution of data processing products; and the marketing of products using trademark rights. As of Dec 31 2013, Co.'s business activities were primarily holding and managing its investment in Volkswagen Aktiengesellschaft.
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