Grifols: A new bullish channel up to +18%?Focused on hemoderivatives (blood plasma), Grifols is great value by most of investors. Even though the company might be one day spitted by any scandal on how it is gathering the plasma in the US, americans have got a high stake on it and today it is focusing on an hyperimmune immunoglobulin with specific antibodies against the SARS-CoV-2 virus. Grifols estimated an impact on its accounts of €200 million and many rating houses have downgraded the stock. Its 2019's profits were up 4.8% to 625 million and an EBITDA of 1,434 million (+17,3% YoY). In 2020, Q1 Net profits were up 63% and EBITDA 14.9%. Results on its tests will be presented in July (the mandatory 14 days to see whether the virus is gone or not). We may experience volatility in the price of the company until July 01. According to some news, Grifols' margins were not attractive and that is why the correction of the share price has taken place.
Technically speaking, the company might be immersed in a bullish channel started on March 16 and closing out a triangle started on Feb 20. We could expect the share price go at least up to 29.40 level in the next days. Best price to enter Grifols might be 27€. Also, note that when markets are down, Grifols is up acting like a safe haven asset.
