Credit Suisse Group New Chairman proposal

Credit Suisse Group : New Chairman proposal

The Board of Directors of Credit Suisse Group AG proposes to the shareholders to elect António Horta-Osório as the new Chairman of the Board of Directors at the next Annual General Meeting on April 30, 2021. António Horta-Osório shall succeed Urs Rohner who will step down in 2021 as previously announced upon reaching the statutory term of 12 years. António Horta-Osório is currently the Group Chief Executive of Lloyds Banking Group.

From a chartist point of view, the stock consolidates after a strong rally that followed the break above the former resistance area at 10.45 which now acts as support. Regarding technical indicators, the 50-day MA is positively oriented below prices while the RSI trades in bullish territory. Therefore, above 10.45, readers should consider a new up leg to test the 11.9 resistance and 12.5 in extension.

Source: TradingView, GAIN Capital

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