Valeo recovered 78% from the drop initiated mid February. The share price increased sharply after the announcement of the stimulus packages to the automotive industry accross Europe. Barclays has just raised their share price target to 30 euros. Worth looking into buying on a pullback towards the 22 euros support line with a target near the 28 euros resistance.
Trade closed manually
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After a good 12% increase since my suggested entry point at 22 euros, the Q2 earnings press release, are showing a net loss of 1.2 Mds euros for Q2. My original scenario published last month is therefore no longer valid. If you haven't moved up your stop loss to protect your gains, I suggest that you don't wait a return to the 22 euros entry level to close your position.