Trading Idea - #Hochtief (short-term BUY)BUY (Short-Term)
ENTRY: 66.28 EUR
TARGET: 70.54 EUR (6% profit)
STOP: 62.88 EUR
#Hochtief is the largest construction company in Germany. The company's business activities are: - Construction of infrastructures and buildings (No. 3 worldwide): bridges, highways, stadiums, schools, hospitals, etc. The group also offers logistics services, asset management, project insurance, maintenance and site management.
1.) currently the price was rejected at the resistance 64.00 EUR. I expect a short-term upward movement!
2.) HT is building more new apartments in Frankfurt despite the pandemic. Order books at Hochtief are generally well filled.
3.) Construction industry: Material shortages could dampen the construction boom
4.) Hochtief subsidiary Cimic receives a multi-billion motorway contract
5.) MSCI cancels Hochtief shares from Germany index
6.) The construction company's quarterly figures are mixed, but they are also distorted by the pandemic and the sale of Thiess shares.
