Deutsche Post surges following 2Q earnings - the bullish trend goes on
Jean-Christophe Rolland August 5, 2020 8:49 AM
The logistics company is gaining ground and posts new YTD highs after reporting second quarter sales that beat estimates.
The logistics company is gaining ground and posts new YTD highs after reporting second quarter sales that beat estimates. Deutsche Post also confirmed its FY forecasts.
Fro a chartist point of view, the stock trades into a bullish channel drawn since Mid-March. Both 20 and 50-day MAs are well oriented while the RSI is maintaining a positive trend above 50. As long as 33.9E is not broken, further upside is expected towards 39.9E (all-time closing high) as first target and then 42.5E (Fibonacci projection in extension).
Source : TradingView, Gain Capital
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