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Anna Williams

Siemens

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Hi Anna, thanks for coming here. Siemens stock price surged higher on Friday despite a significant plunge in the profit experienced in the last quarter. The company reported that its industrial profit slid 18% lower in the second quarter. The net profit crashed 64% compared to the same period a year ago with orders declining 8%. 

Still, shares of Siemens popped higher as investors feared results that were much worse. The stock price hit a new 2-month high and touched the $90 handle for the first time since March. Therefore, I’d suspect a move towards the resistance area $94 - $97 is next on the cards.
 

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