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Covestro quarterly figures disappoint - no rally potential in sight for the share!
According to a report from stock3.com, Covestro reported disappointing figures in the last quarter. Sales fell from EUR 4.6 billion to EUR 3.6 billion, while analysts had expected EUR 3.73 billion. Ebitda and net profit were also lower than expected. The share reacted cautiously to the published figures and was barely changed. These poor quarterly results could have an impact on the market and the industry. It is possible that investors will lose confidence in Covestro and the share price will come under further pressure. According to the expert report, the stock could even form a complete top formation and continue to decline. A support area at…
Covestro quarterly figures disappoint - no rally potential in sight for the share!
According to a report from stock3.com, Covestro reported disappointing figures in the last quarter. Sales fell from EUR 4.6 billion to EUR 3.6 billion, while analysts had expected EUR 3.73 billion. Ebitda and net profit were also lower than expected. The share reacted cautiously to the published figures and was barely changed.
These poor quarterly results could have an impact on the market and the industry. It is possible that investors will lose confidence in Covestro and the share price will come under further pressure. According to the expert report, the stock could even form a complete top formation and continue to decline. A support area at EUR 46.21 could be an important decision level. If this range is sustained, prices could fall to around EUR 40.76 in the next few weeks.
This potential impact on the stock market and industry should be noted by investors and consumers. It is important to keep an eye on Covestro's development and investor reactions.
Source: According to a report by stock3.com.
Read the source article at stock3.com