From a chart perspective, the Hannover Re share looks very bullish. The steep rally from August has been well consolidated in recent weeks. The consolidation seems to have ended for a few days now, and the bulls are driving the share price towards its all-time high.
Our main scenario predicts the stock will pause its rally just below the all-time high for a few days before breaking out dynamically to new highs. A realistic target for this breakout movement is €280.
A bearish alternative scenario emerges below €235. If the stock falls below this level, targets around €200 come into focus.
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