(Finance) – The stock moves significantly lower Zalandowhich exhibits a negative percentage change of 13.59%.
The cut in earnings forecasts announced by the company, which cited worse-than-expected macroeconomic conditions, weighed on equities. Now the retailer expects, for the current year, profits in the range between 180 and 260 million euros, against the previous estimate of 430- 510 million euros.
The one-week trend Zalando is more sluggish than the trend of DAX. Such a breakdown could trigger opportunities for the market to sell the stock.
Technical framework in evident deterioration with controlled supports estimated in the area of 21.12 euros. On the upside, however, a polarizing level of higher outflows is seen at 22.85. The worsening of Zalando is evidenced by the downward crossing of the 5-day moving average with the 34-day moving average. The possibilities of new descents for target at 20.16 are very soon.