FAES FARMA: Last touch to lower bound of the bullish channel?

Tomorrow might be the day where FAES FARMA goes to the lower bound for the last time at 3.60€ level and from there goes up to Target Price 4.50€. It can close the triangle formed from April 24 to today going down to 3€ or spiking up to 4.50€ from June 4 on. That would be from a short-term perspective. From a long-term one, optimum technical entry price is at 3.40-3.45€. The stock is immersed in a bullish channel since December 7, 2012. 2019 was the fourth consecutive year of increasing profits, up to historical maximum €64 million (+24% than 2018). EBITDA was up +26.6%.

Kommentar:

Faes Farma gets out of bullish channel, approaching support at 3.60€

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Faes Farma aiming at 3€ once again? Or will it stop at 3.33€? Sales of antihistaminics fell down between 25 and 22% in March and May in Japan due to covid19 making people stay at home and not experiencing allergies. Well see how are next Q2 results on 24/07/2020.