Grainger plc : The share is well oriented
By Etienne Veber
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 203.8 | GBX 215 | GBX 203.4 | +5.5% |
From a fundamental viewpoint, analysts are optimistic on the future EPS of the company. During the past 12 months, EPS have been revised upward by 100% for 2013.
The security is in an upward trend for several months. A running out of steam is occurred with the contact of GBp 206.1 which is the highest recorded by this share. A consolidation phase has been set up. However, investors could expect a breakout of this area(GBp 206.1) in the coming sessions.
Above GBp 206.1 a buying signal will be given, in the contrary below GBp 199.7, a downward movement will be anticipated.
We prefer to wait for a breakout of the GBp 206.1 in order to aim the trendline at GBp 215.