The GBp 1563 support area, currently tested, might facilitate a technical rebound. The company’s fundamentals could validate this scenario.

The current share quote displays a +18% potential to reach the consensus average target price. Surperformance ratings underlines its profitability and its finances quality. Moreover, the P/E ratio (2015e) is below the industry average.

Technically, the security sharply fell for the last several weeks. This fall lead shares on easyJet toward the GBp 1563 support area, which could become a stepping stone for a bounce in prices. This push could draw an upturn movement, thus launching the equity toward the GBp 1700 resistance level. Even though daily moving averages are still in a bearish trend, the oversold situation could encourage a renewed interest in the stock. In addition, the 100-week moving average should prevent the stock from a major downfall.

The trading strategy could benefit from the proximity of the strong support currently tested in order to buy easyJet in a good timing. A first target could be the GBp 1700 resistance. The potential gain is over 6%. Investors should place a stop loss order below GBp 1550 in order to avoid important losses.

At the publication date, the company Surperformance SAS which edit 4-traders.com website, held a position of 138 shares of Easyjet, bought at GBp 1636, on the 03/17/2014.