TTE: Ready for a correction if the brent suffers from macro

Correlation with Oil Prices:

TTE, being an oil and gas company, is closely correlated with WTI and Brent crude oil prices.

Market Uncertainty:
The fundamentals of industrial production are uncertain due to high commercial tariffs and evolving economic conditions, which could impact demand and slow down industrial activities.

OPEC+ Production:
OPEC+ countries are expected to increase production more than anticipated, potentially leading to a slight correction in oil prices .

Financial Strategies:
TTE has buyback plans and other financial revenues, which could provide some stability 3 4.

Stock Price Prediction:
If oil prices range between €50 and €65 per barrel, TTE's stock might vary between €42 and €55.
From a technical standpoint, breaking the €52 level on a weekly timeframe could lead to a correction down to €42.
Conversely, stable fluctuation above €52 could keep the stock in a fluctuating mode, potentially rising to €60.

Let's keep an eye on how things evolve! If you found this analysis helpful, please like and boost 😊