BASF SE (BAS.de) bullish scenario:

2022년 9월 5일

The technical figure Triangle can be found in the daily chart in the German company BASF SE (BAS.de). BASF SE is a German multinational chemical company and the largest chemical producer in the world. The BASF Group comprises subsidiaries and joint ventures in more than 80 countries and operates six integrated production sites and 390 other production sites in Europe, Asia, Australia, the Americas, and Africa. BASF has customers in over 190 countries and supplies products to a wide variety of industries. The Triangle broke through the resistance line on 03/09/2022, if the price holds above this level, you can have a possible bullish price movement with a forecast for the next 20 days towards 45.93 EUR. Your stop-loss order, according to experts, should be placed at 40.21 EUR if you decide to enter this position.

BASF stock should be very attractive to investors, given its recent performance. In a macroenvironment where costs are eating into the bottom line of every company, the firm managed to buck the trend. Sales reached 23 billion Euros in Q2, increasing by 16.3%. Net income increased by an even greater 26.3%, reaching 2.1 billion Euros. The strong quarterly results led BASF to increase sales guidance to between 86 to 89 billion Euros for 2022.

CEO Martin Brudermuller succinctly summarized the situation, “Despite the continued high raw materials and energy prices, we again achieved strong earnings in the second quarter.”

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