Berendsen : The GBp 1008 support currently tested
By Etienne Veber
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 1,025 | GBX 0 | GBX 987 | -100% |
According to Surperformance© ratings, the company is an opportunity for a trading strategy. Indeed, it usually posts better-than-expected financial statements as in 2014 fiscal year.
Technically, in daily data, even if moving averages are still in a downtrend, a positive reaction in the GBp 1008 area should stop this trend and allow a technical rebound towards GBp 1084 (mid-term resistance). Moreover, technical indicators show a significant oversold condition which strengthens this bullish scenario.
The trading strategy can benefit from the proximity of the strong support currently tested in order to buy Berendsen with a good timing. The potential gain is around 5%. Investors might place a stop loss order at GBp 987 in order to avoid important losses.