Publicis Groupe the market overvalues the group
Analysis published on Tuesday, February 21, 2023
Since the low point of the COVID-19 crisis in the spring of 2020, Publicis shares have experienced a violent appreciation. The title has almost seen its value multiplied by 4 over the period and it is approaching only a few points of its historical records achieved in 2015 at 79.40 euros per share.
The graph above, which is carried out over a period of 10 years and on a weekly basis, shows the long-term pattern of the value. It also allows us to highlight the short-term bullish exaggeration which brings us back not far from the records.
All the technical indicators are overheated and it is obvious that in such a situation we will stay away from the file which is graphically at the end of the bullish cycle. To come back and place ourselves on the file, we will wait at least for a first breath on the intermediate support zone of €67.
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