Hello Fresh SE - Massive downside potential!

There is little to be positive about in terms of the share chart. In March, the company canceled its expectations. This led to a 40% gap down on 8 March. Since then, the share has recovered somewhat and ran exactly to the 61.8 % Fibo retracement of the gap. At the same time, the EMA 200 runs through this area, from where we expect prices to fall in our main scenario. We expect the share price to remain in the EUR 5 - 6 range for several weeks and months. If the downward trend is dynamic, new lows below EUR 4.4 are also possible.

The chart will only start to brighten in the medium term above EUR 12. For us, however, this is clearly a secondary scenario.

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