Schaeffler AG Stock Price Drops, Presents Investment Opportunity
Schaeffler AG's stock price has seen a significant shift, dropping below 4 EUR in April 2023. This presents an opportunity for institutional investors and value-oriented shareholders, as analysts suggest a potential medium-term rally in the stock market.
The stock's recent chart breakouts and fundamental improvements, such as strong order books and earnings enhancement, hint at a possible recovery. If the current rate of increase continues, the stock could reach 6.77 EUR directly, surpassing the February 2024 high in the calendar year 2024. However, a pullback to 6.40 EUR is theoretically possible.
Analysts suggest that if the price rises above the February 2024 high, it could then target the resistance levels from the spring of 2023 around 7.38 EUR in the stock market. In the long term, the stock could even rise to the November 2021 high of 8.28 EUR. The price target of 6.09 EUR has already been exceeded, and the next step towards the February 2024 high of 6.77 EUR has been taken. Despite the sharp increase, only declines below the support level of 5.20 EUR would be concerning. So far, the bears have been unable to counter the massive upward movement, with the stock rising sharply since then and overcoming the upper side of the large downtrend channel in the stock market.
Schaeffler AG's stock price has shown significant improvement, with analysts predicting a potential medium-term rally in the stock market. While a pullback is theoretically possible, the stock's sharp increase and inability of bears to counter this movement suggest a positive outlook. However, investors should remain vigilant and monitor the stock's performance, particularly around the support level of 5.20 EUR in the stock market.
