Analysis: Köpstyrka back in Rocket Internet!

Köpstyrka looked forward in Rocket Internet on Friday, which paints a picture that it may be time to start to regain lost ground. The company’s stock is also just above the oversold territory, but exhibiting the positive attitude already now for a turning point…

Get Minianalys Swedish Shares automatically to your e-mail every day before the stock market opens!

It has been a volatile journey in the year of Rocket Internet. The company is one of the world’s largest e-retail-oriented incubators and venture capital firms.

The big downturn that was triggered in the first quarter occurred when the Kinnevik divested a large part of his post in the company, then took on the company’s share with a high-speed a trip further north which took us back over 20 euros.

The journey north took us up to 22 euro, it took the however stop. A technical key level is around this level, at 21.50 euros, and after an initially fight, we got a trip which now looks to be bottomed out at 17 euro.

Just below the current note is the technical support level at 16.50 euros, but on Friday we got a ”hammer”. We closed the thus, in the upper region despite a decline to just under 17 euro intraday.

This, together with the company’s share is just over an oversold scenario on the RSI indicator, we think us see the underlying positive attitude.

At the same time increases the likelihood that we can get a turning point already, then köpstyrka is expected to step into the picture seriously around these price levels, then we find ourselves just above the all time low just below the 15.50 euro.

We believe that a köpläge, there are currently around 17.50 euro, which has a high probability to be visited on Monday.

Then we see an initially travel up to around 18.40 before we get some opposition from sellers.

Our målkurs lands at 19.75 euros, which is just under technical resistance level which is at 20 euro. Tentatively placed a stop loss already at 16.75 euros.

Rocket Internet announced as late as on 28 June that the company expected to sell its remaining ägarpost in Lazada Group S. A, corresponding to 8.8% of Alibaba Group Holding Limited. Lazada has been a great success for the company since its launch in 2012 in south east Asia, and has become a leading e-handelsinriktad player in the region, said the company’s ceo Oliver Samwer.

The shares are traded on Xetra, under the symbol of the BRAND.