Inchcape reaches a strategic entry point and has a considerable potential.

From a fundamental viewpoint, Inchcape has undeniable qualities. Its excellent Surperformance rating underlines its attractive valuation, its earnings quality and business predictability. Moreover, the consensus average target price is displaying a 12% upward potential.

Graphically, the stock keeps a bullish trend in the long term. In the short term? a test of the GBp 836.5 resistance led the share on its lower trend lie. This area gather the weekly GBp 742 support and the rising 50-week MA.

As a result, active investors can immediately take a long position in Inchcape thanks to the close proximity of the GBp 734 support area. The target price is GBp 836.5 and in case of breakout of this level, the second target price would be GBp 894. If there is a breakdown of the GBp 734 support, investors should close their positions.