jakilb

1COV - underside support line from former breakout

XETR:1COV   COVESTRO AG O.N.
After this relatively big earnings sell off I am expecting a bounce from the {purple} support line, that has held well since the breakout from the falling channel a couple of months ago. Today (02.05.19) we breached this support line on the close, nonetheless I still think it will respect this underside resistance (at least short term). Compared to competitors the P/E ratio is very low at the moment, wich further supports my thesis of a short term bounce - if investors get their minds together.
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