Following the deal reached a couple of hours ago at the European summit re. the recovery fund, there is a likelihood that the FCE August contract will open gap up. If the 5100 pts resistance which has been tested several times breaks with a gap up, the maket could go and seek the 5140 area and then the 5200. This scenario would be cancelled if the market retraced...
Valeo recovered 78% from the drop initiated mid February. The share price increased sharply after the announcement of the stimulus packages to the automotive industry accross Europe. Barclays has just raised their share price target to 30 euros. Worth looking into buying on a pullback towards the 22 euros support line with a target near the 28 euros resistance.
