CIE Automotive is showing strong growth in its main figures despite the difficulties that the sector is experiencing. The company’s debt over equity is declining and it maintains a high liquidity position that allows it to face new investments. Your valuation multiples are attractive (PER of 10.65x and Yield per dividend of 2.11% with a payout 31.38%) and receives a positive rating for fundamentals (see “CIE Automotive continues to be immune to the problems of the sector”)
Our technical indicators that have been programmed to detect and follow an upward trend give the CIE Automotive stock a total score of 5.0 out of a maximum of 10 possible points. This score is compatible with a consolidation phase, that is, the price is stabilizing in the medium term although it maintains a bullish bottom. A phase in which corrections should be considered as opportunities to join the primary uptrend.
CIE Automotive in daily chart and in logarithmic scale, with range of amplitude in percentage, MACD oscillator and trading volume
A graphical analysis allows us to appreciate a structure of increasing significant highs / lows that is supported by upward crossed medium and long-term moving averages. The current correction allows the oscillators to move into the oversold zone and the volume to begin to rebound moderately. With the price close to the bullish guideline that starts from last year’s lows, you can look for long or buying positions. There is no significant resistance up to the annual high set at 26.20. Stops should be set below the next support zone between 20.96 and 20.24.