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Faurecia) the underlying upward trend is still not denied

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Analysis published on Thursday, August 10, 2023

Since the fall of 2022, the Forvia share, formerly Faurecia, has had a tremendous stock market performance. The title took more than 135% rise during this bullish sequence which brought it back to its high points of March 2022, just before its heavy fall.

The road to reconquest will be long but the latest fundamentals have reassured everyone. The first half was of high quality and the management took the opportunity to raise its forecasts, in a global economic context that does not suit everyone.

Based on its expected profits for the 2023 financial year, Forvia is paying less than 12 times its profits in terms of PER. A valuation that is not particularly tight while the medium term is quite visible.

Technically, we remain on our nice uptrend, as long as we hold the oblique support at the close. The Forvia share has been able to use it, already on 3 occasions to mark a new high during each raise. This crucial level will therefore be our trading basis for making the right decisions. Below, we cut the position, above we remain « long » with the line of sight at 25.40 euros in a first step then 27 euros afterwards.

© www.abcbourse.com

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The information and analyzes disseminated by ABC Bourse only constitute a decision-making aid for investors. ABC Bourse cannot be held liable directly or indirectly following the use of information and analyzes by readers. It is recommended that any uninformed person consult a professional adviser before any investment. This indicative information does not in any way constitute an incitement to sell or a solicitation to buy.



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