Steinhoff stock: A special sign…
Steinhoff has now made a name for itself with another tee shot. At the start of the week, the value had to accept a setback of 3.5%. This means that the share is on its way to once again undercutting the lower limit of 8 cents, which should in any case also dampen the mood of investors and analysts. Also, however, the company’s largest investor is selling further shares.
This could a) weigh on the share price anyway and b) cloud the mood, which could explain the price setbacks. If the good news fails to materialize, the price is likely to fall to 7 cents for the time being. After that, prices should probably continue to fall.
The largest shareholder is South Africa’s pension fund. This has a share of a good 6.6% in the company and stands out due to ongoing sales. The fund has sold in the past three quarters. Observers assume that the sales volume in the second quarter of 2019 will be more than 7 million shares.
This, in turn, would correspond to a sales volume of a good EUR 700,000.
From a chart technical point of view, such processes are trend confirming. In this respect, Steinhoff has further significant sales impulses.
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