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Analysis: EVOTEC share in correction - When is the right time to invest?
According to a report from stock3.com, Evotec SE shares have been in a significant correction since September. Starting from EUR 45.83, the price has now fallen to EUR 15.95. Technically, the correction is intact and could continue. The red EMA200 forms the upper-limiting structure and has had a capping effect since February 14, 2022. As long as this is the case, the correction could extend in price and time. The EMA200 is currently at EUR 22.63, which is the crucial barrier to the upside. The medium to long-term chart picture could slowly turn bullish if the share price of...
Analysis: EVOTEC share in correction - When is the right time to invest?
According to a report by stock3.com, Evotec SE shares have been in a significant correction since September. Starting from EUR 45.83, the price has now fallen to EUR 15.95. Technically, the correction is intact and could continue. The red EMA200 forms the upper-limiting structure and has had a capping effect since February 14, 2022. As long as this is the case, the correction could extend in price and time. The EMA200 is currently at EUR 22.63, which is the crucial barrier to the upside. The medium to long-term chart picture could slowly turn bullish if Evotec's share price can rise above EUR 24.50 at least on a weekly closing basis.
The current development of Evotec's shares suggests that the correction is not yet complete and could continue. The upside barrier is at EUR 22.63, and a move above EUR 24.50 could turn the chart picture bullish. As a financial expert, I therefore see the possibility that the correction could continue and intensify if the resistance mentioned is not overcome. Investors should take this into account when making investment decisions and closely monitor the stock's further development.
Read the source article at stock3.com