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$HEI : HeidelbergCement Provides a High Upside Potential

October 19, 2021 By

HeidelbergCement is a German multinational building materials company. Today, it is the largest producer of construction aggregates in the world. It is number 2 in production of cement and number 3 worldwide in ready mixed concrete. Founded in 1874 and headquartered in Heidelberg, Germany, HeidelbergCement is a part of DAX40 index. One can trade it under the ticker $HEI at XETRA.

HeidelbergCement Monthly Elliott Wave Analysis 10.18.2021

The monthly chart below shows the HeidelbergCement stock $HEI traded at XETRA. From all-time lows, the stock price has developed a strong initial nest. Just to recall: A nest is a sum of waves 1 and 2 of the same degree. First, black wave ((I)) has ended in May 2006 at 96.11. Then, wave ((II)) has corrected the cycle higher within an expanded flat structure lower. Hereby, wave (b) of ((II)) has printed the all-time highs in April 2007 at 112.03. The consolidation within wave ((II)) has ended in February 2009 at 18.01.

From February 2009 low, a new cycle in wave ((III)) has started. Break above 112.03 highs will confirm that. Within wave ((III)), $HEI is showing a series of nests. First, waves (I)-(II) have ended on March 2020 at 29.00. From there, a second nest is curently in progress. Wave I has ended and wave II should find support above 29.00 lows in 7 or 11 swings. Then acceleration higher in red III of blue wave (III) of black wave ((III)) should take place.

As an outlook, wave (III) of ((III)) should extend towards 107.22-155.52 area and possibly higher. The target for the entire wave ((III)) will be 114.42-174.01 area. Current prices offer, therefore, a high profit potential for those who would like to diversify their portfolio by indirect investment in commodities and construction business.

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