Getlink waiting for a clear buy signal
Analysis published on Monday, January 16, 2023
The action of the operator of the Channel Tunnel has been on a downward trend for several months. After reaching a valuation record for 15 years in the summer of 2022, the stock has continued to decline and has seen its valuation cut by 25%.
The intense selling phase has calmed down and Getlink has found technical support around €14.75. The title is for the moment carrying out a horizontal consolidation above this level and is looking for a new balance. The exit from the top of this phase of hesitation is not yet won and we are waiting for confirmation elements to return to the purchase.
Among the signals that could reassure us we have first of all the upward passage of the oblique resistance line but also the reversal of the 20-day moving average that we will monitor. For the moment, the latter is still slightly oriented downwards and the courses do not evolve frankly above. Let’s wait to gain security on the timing of the intervention.
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