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
GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.