The trend is still bullish. No indicator nor pattern are questioning it. The invalidation is below €8.700. The target is at €10.000Arguments :- The major support has been reached, it causes the bounce.- The moving average is supporting prices.- The bullish gap has been tested, the rally resumes.
La tendance est toujours haussière, aucun indicateur ni aucune figure ne la remettent en cause. L'invalidation est sous 8,700 €. L'objectif est à 10,000 €Arguments :- Le support majeur est atteint, il cause le rebond.- La moyenne mobile sert de support.- Le gap a été testé, la tendance haussière peut reprendre.
The trend remains neutral. Prices will have to break below the peak at €8.432 for the trend to be negative again with an invalidation level above €9.500.Arguments :- The resistance has been reached, it causes the fall.- The 62% retracement is causing the fall.- The moving average is capping prices.- The gap has been tested, we wait for the trend to resume.
La tendance est toujours neutre. Il faut enfoncer le creux à 8,432 € pour que la tendance devienne négative avec une invalidation au-dessus de 9,500 €.Arguments :- La résistance est atteinte, elle cause le repli.- Le retracement de 62% est atteint, il cause le repli.- La moyenne mobile sert de résistance.- Le gap a été testé, la tendance peut reprendre.
The trend has been momentarily interrupted by a correction. It approaches the resistance at €9.100, which also is the invalidation level. It should cause a fall and resume the bearish trend. The next target is at €7.380. The invalidation level is below €9.120.Arguments :- Prices are pulling back to the major resistance level (previously a support). The fall will resume afterwards.- The moving average is capping prices.
La tendance est momentanément interrompue par une correction. Elle approche de la résistance à 9,100 €, qui est également le niveau d'invalidation. Ceci pourrait relancer le mouvement baissier. Le prochain objectif est à 7,380 €. Le niveau d'invalidation est au-dessus de 9,120 €.Arguments :- Les cours font un pull-back sur la résistance majeure (ancien support), la baisse reprendra ensuite.- La moyenne mobile sert de résistance.
La tendance est toujours baissière, son niveau d'invalidation est au-dessus de 9,550 €. L'objectif est à 8,260 €.Arguments :- La résistance majeure est atteinte, elle cause le repli.- La moyenne mobile, baissière, confirme notre avis.
Item 2: We recommend opposing the dividend proposal. ECGS believes that dividends should be covered by consolidated earnings and/or free cash flow and supported by a strong balance sheet in terms of solvency and leverage. In line with our guidelines we recommend opposition as the Company does not provide a reasonable justification why the dividend is not covered by earnings for a third consecutive year.Items 5a, 5b and 5c: PwC, Düsseldorf, is proposed as auditor for the current financial year, ...
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