Despite the volatile markets, charts indicate that TNT, Imtech, and DSM are all attractive buying opportunities, GeertJan Nikken said Wednesday.
TNT, a company providing businesses with services for their express delivery and mail needs "has had a strong decline in prices in the last quarter of 2008," Nikken told CNBC. For the most part the stock is trading sideways and the barriers that TNT is trading between are 13 and 16 euros.
"This could be a very interesting stock to 'range trade' with," Nikken added. He suggested buying TNT for a rally to 16 euros.
Like TNT, Imtech, the Dutch technical services company, is down shaply since the end of 2008, but "the downtrend has been coming to a rest," Nikken said.
The key part of the chart is the "horizontal barrier, indicating a trend of higher lows," he said.
"The pressure on this stock is to the upside, even though it might test the recent 12.75 euro low," he added. Nikken said he is expecting a spike in the stock and suggested that now is a good time to get in.
Koninklijke DSM, the Dutch company that produces pharmaceutical ingredients, performance materials, and industrial chemicals, is also following a similar trend to TNT, hitting both higher highs and higher lows.
"There is room to the upside; there could be another movement upwards with the possibility of prices going to the 21 euro zone," he said.