Technical Analysis Confirms Titan’s Bullish TrendTitan continues to attract the interest of both investors and the broader market, showcasing an impressive performance on stock exchanges and reporting strong financial results for the first nine months of 2024. With its stock price closing at €39.80, marking a 2.71% increase, the company confirms its robust momentum.
Technical Analysis: Steady Upward Momentum
The technical outlook of Titan’s stock highlights a solidifying upward trend. Exponential Moving Averages (EMAs) across various timeframes (20, 50, 100, and 200 days) support the positive perspective. The current stock price is notably above these averages (EMA 20: €36.44, EMA 50: €34.68, EMA 100: €33.15, EMA 200: €30.41), indicating strong buying activity.
The MACD indicator (12, 26, 9) reinforces this momentum, with a positive divergence between the MACD Line (1.582) and the Signal Line (1.151) and a Histogram value of 0.4312. Pivot Points also indicate the stock approaching the first resistance level (R1: €41.25), with strong potential to breach higher levels (R2: €43.80) if the upward momentum persists.
Key Moving Averages (EMAs)
The EMA indicators signal a clear upward trend:
EMA 20: €36.44
EMA 50: €34.68
EMA 100: €33.15
EMA 200: €30.41
The stock price remains substantially above all these averages, underscoring the strength of its long-term bullish trajectory.
MACD (12, 26, 9)
The MACD indicator confirms the upward dynamics:
MACD Line: 1.582
Signal Line: 1.151
Histogram: 0.4312
This positive divergence suggests sustained buyer interest.
Pivot Points and Key Levels
Pivot Point calculations outline support and resistance levels as follows:
R1: €41.25
R2: €43.80
S1: €34.25
S2: €29.80
The proximity of the price to the first resistance level (R1) signals a potential breakout towards higher levels if the upward momentum continues.
Titan Cement’s technical outlook reveals strong upward momentum, supported by moving averages and MACD. The stock’s position relative to Pivot Points suggests increased demand, potentially targeting the €41.25 level.
Strong 9-Month Financial Results
Titan Group reported positive results for the first nine months of 2024, with all geographic sectors contributing to growth. Sales increased by 4.9% to €1.985 billion, while EBITDA rose by 14.6%, reaching €455 million. Improved selling prices, enhanced operational efficiency, and reduced fuel costs boosted profit margins.
Notably, net profits rose by 20% to €238 million, while earnings per share stood at €3.19. S&P’s credit rating upgrade to “BB+” and the reduction of the net debt-to-EBITDA ratio to 1.1x underscore the company’s financial stability.
Strategic Initiatives and Growth
The Group continues to invest in strategic initiatives with a focus on sustainable growth. The acquisition of quarries and concrete plants enhances production capacity. Simultaneously, the advancement of the carbon capture project IFESTOS in Greece highlights the Group’s commitment to environmental sustainability.
The planned listing of Titan America’s operations on the New York Stock Exchange, expected in Q1 2025, is set to further boost the company’s expansion strategy in the U.S.
Outlook: Robust Performance Amid Challenges
Despite global economic challenges, including inflationary pressures and geopolitical uncertainties, Titan Group remains focused on growth. Demand for cement is expected to remain strong, especially in the U.S. and Europe, driven by public infrastructure projects and private investments.
In Greece, the economy shows resilience, with private sector investments and EU funds fueling growth. Meanwhile, Balkan countries and Egypt display mixed results, with long-term prospects depending on local economic stability.
Titan’s stock appears attractive for investors seeking stable returns in a high-uncertainty environment. With strong technical and fundamental indicators, a potential breakout above €41.25 could pave the way for further gains. The anticipated Wall Street listing and commitment to sustainable development enhance the stock’s long-term value.
Titan is poised to continue its growth trajectory, supported by strong performance, green development strategies, and international opportunities. With current dynamics, 2024 is shaping up to be a milestone year for the Group in both sales and profitability.
