PharmaMar: If it loses supports, it can go towards 46 euros

PharmaMar: If it loses supports, it can go towards 46 euros

Last week, the US firm Needhan began coverage of PharmaMar with strong doses of optimism. Specifically, Needhan’s recommendation is to ‘buy’ shares of PharmaMarto which they grant a target price of €82 per sharea figure that represents an upward trend of 40.8% for the next twelve months and that would serve to see the price of the old Zeltia return to the levels registered in September of last year.

The valuation issued today by Needham slightly exceeds the consensus of the analysis houses that Reuters collects for PharmaMar, and which contemplates a target price of 80.91 euros per share, which represents a potential of 35%.

But the truth is that PharmaMar It is in a difficult situation at a technical level. The 30 week simple moving average (in red) that tends to be somewhat positive, but the price structure continues to be one of decreasing highs and lows, during the last weeks and months, according to JosΓ© Antonio GonzΓ‘lez, technical analyst.

On a daily scale, the situation could worsen because it has a bearish cut in its medium and long-term moving averages. The support to monitor the 54.98 euros per share. Its perforation could lead to attacking the area of €46.05 per share:

PharmaMar
PharmaMar

To break out to the upside, it would have to break above the resistance zone, at 77.50 – 82.58 euros.

Check here the technical indicators of all the values ​​of the Ibexincluded PharmaMarand access up-to-date trading strategies and analysis of indices and securities in our premium area.

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