Hensoldt Share Price Dips, But Analysts See Breakout Potential
Hensoldt's share price experienced a temporary dip of over 5 percent in early Wednesday trading, reaching 104.50 euros. Despite this, analysts see potential for a breakout-confirming move, with targets as high as 140 euros.
The Relative Strength Index (RSI) has reached high values, but tops are still far from those of earlier uptrends, suggesting more price potential. Since August lows of 75.95 euros, Hensoldt's stock has appreciated by nearly 50 percent.
The stock price has already broken above the €94.70 range and reached a first target at €102.40. The next potential uptrend or new record could occur as it aims to break above the September trading range, with targets at €109. The short-term support levels at €97.75 and €95.95 reinforce the upward structure, and stability above €102 suggests a base for further rises.
With the next targets set at 130 and 140 euros, Hensoldt's stock price has the potential to rise by up to 30 percent from the current level. A sustained break above the old high would be extremely bullish for the stock. However, defense stocks like Hensoldt and Rheinmetall are currently experiencing a pullback after recent record highs.
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