Home Retail Group Plc : The bulish trend could resume
By Florian Girard
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 169.9 | GBX 0 | GBX 167 | -100% |
The firm enjoys an excellent Surperformance rating which underline the earning quality and the attractive valuation. The consensus is mainly buyer with an average target price displaying a +12% potential.
Graphically, the security is trading in a bearish trend. In the short-term, the stock has rebounded on the GBp 149.9 support area toward its mid-term resistance. A consolidation phase is taking place within the GBp 160.5/173.4 range. This latter should allow the security to break out the upper limit and keep rising above that level.
Consequently investors may open a long position in the event of a daily close above the GBp 173.4 threshold. Once initiated the position will be protected by a stop loss order set at Gbp 167 and the main target will be the GBp 188.5 pivot point.