Michelin - a French company, the world's largest tire manufacturer. The Corporation manufactures a wide range of tire products for the automotive, agricultural machinery, bicycles, and aircraft. The total number of employees is about 130 thousand people who work at 69 factories in 19 countries.
Michelin, despite the tire scandal at the stage of the Formula 1 2005, actively promoting their products, and sponsors the smaller championships, such as World Cup racing endurance; world championship in road-racing;European Le Mans Series. April 20 released financial report for the 1st quarter 2016, ended March 31, according to which consolidated sales totaled 5.065 million euros and exceeded last year's figure 5.022 million euros to 0.9%. The company intends to offset the drop in sales in South America due to a sharp demand for tires in China. Forecast for special kinds of tires remains unfavorable. The decline in the mining industry and the deterioration of the economy in Brazil, significantly reduced the demand for the relevant products. January 20, the company signed an agreement with Ford on Michelin tires equipping new Ford Focus RS. A similar agreement was concluded with Boeing on the model Boeing 777-300ER on 11 February. At the same time the company develops its own technology and produces new types of tires.
Currently, shares CFD ML.FR adjusted to the level of 86.41, and set their sights on a top-down range. Reasons to reach 77.00 support there, but the decline will continue the next few days. The entry point is denoted price 87,00, from which should be open warrant for the purchase of an asset. The breaking resistance of 89.5, would serve as a signal level to achieve long-term goals at the level of 93.00. StopLoss set the quotation on 85.00.
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Author analysts Maxim Lence