The market correction we were expecting is postponed for now – Metlen stock worth buying at €40
In the worst-case scenario for Metlen’s share, the price stands at €38.2, which represents an aggressive buy level, while around €40 it is a fair buy price.
We will focus on two stock market issues of interest:
– The market correction we were expecting is postponed for now.
– Metlen’s stock is worth buying at €40.
The major stock market correction won’t happen yet
We are expecting a major correction in the markets, which are currently an excessive bubble.
Just as in the Greek stock market, we had correctly identified early on that it would stall around 2,050 points.
The recent small-scale correction in the market is mainly the result of outflows from emerging market funds, since the Greek stock market’s inclusion in developed markets is being planned, and less due to international factors.
The Athens Exchange reached 1,987 points, which does not yet inspire concern.
The market is clearly in a transitional phase where emerging investors are leaving and developed-market investors are arriving.
However, the major correction, one exceeding 20%, will inevitably happen at some point, but not yet.
Metlen stock worth buying at €40
The scenario we had outlined, that in the €38.2 to €40 range Metlen is a buy, will be fully validated.
Metlen’s share price fell from €55 to €42.56 — with €42.50 acting as support — as a result of short positions from funds like Marshall and Millennium, concerns about supposed “skeletons” in the company’s balance sheet (which clearly is not the case), and rumors that Mytilineos might step down from management, something that is unfounded.
In the worst-case scenario for Metlen’s share, the price stands at €38.2, which represents an aggressive buy level, while around €40 it is a fair buy price.
Attention should be paid to when exactly Marshall and Millennium will begin reducing their positions.
www.bankingnews.gr
Οι απόψεις που εκφράζονται στα σχόλια των άρθρων δεν απηχούν κατ’ ανάγκη τις απόψεις της ιστοσελίδας μας, το οποίο ως εκ τούτου δεν φέρει καμία ευθύνη. Για τα άρθρα που αναδημοσιεύονται εδώ με πηγή, ουδεμία ευθύνη εκ του νόμου φέρουμε καθώς απηχούν αποκλειστικά τις απόψεις των συντακτών τους και δεν δεσμεύουν καθ’ οιονδήποτε τρόπο την ιστοσελίδα.
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