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SGL Carbon SESGL Carbon SESGL Carbon SE

SGL Carbon SE

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SGL trade ideas

SGL CARBON GERMAN STOCK WITH 30% POTENTIALI pulled the trigger on this german stock. I am seeing very good potential in it. After a multiyear downtrend which took it from 40€ to 8€ i believe we might be in for a correction, normally i dont like to pick bottoms, but this is a tasty R:R and the fundamentals are also increasingly promising. +SGL Carbon was finally able to sell the final part of its losing operations. Leaving now more funds, to concentrate on its profitable segment. +VW, BMW and SKion, have over the last year became big shareholders/investors in this company. They possess together about 45% of SGL Carbons shares and they have been constantly adding more. +Societe General yesterday changed their outlook for the share price, they are now seeing 12€ per stock as fair value for SGL Carbon. Now to the technical part: We have a big bottom being formed since the beginning of 2016. One can see a potential double bottom. The major multimonth trendline, is a very important line that market participants were testing several times. Bulls managed to make a textbook bullish outside bar, enveloping the previous 5 weekly bars, this is chart technically speaking a bullish signal. One can see on the daily chart a more detailed view of the current situation. I am personally long since 8.45€ looking for this move to extend to 11€ midterm, but this is not a buy recommandations its just a view i have on this stock. It might as well fall, no one knows for sure. My stop is currently placed at 7.90€. I think dips toward 8.30 are a good buying opportunity with a stop below 8€. Please use decent risk management and dont risk too much on one trade. Finally, thanks for reading all this. Blessings to you all.
FWB:SGLLong
by IamJeanPaul