Intertek Group, the multinational inspection, product testing and certification company, shows a strong performance for several trading sessions.
The high levels of valuation show the interest of investors for this security.
Since several months, the stock has initiated a sharp bullish trend mainly due to strong fundamentals. The move could be continued, supported by the 20-day moving average, and return to its highest price levels.
Taking into account all these elements, investors could buy the stock above the GBp 2861 resistance with a target price fixed at GBp 3150. A stop loss will be placed below the GBp 2697 short term support, threshold that would invalidate the strategy.
Intertek Group plc is one of the world's leading groups specializing in analysis, control and certification of products and systems. Net sales break down by activity as follows:
- control and certification services for consumer goods (63.4%): including food, pharmaceuticals, textiles, beauty products, consumer electronics, toys, shoes, home appliances, cars. Also, the group is developing an activity to monitor the certification of international standards;
- monitoring and assessment of petroleum and agricultural products (19.9%). Besides, Intertek Group plc offers inspection services to government system and regulators to support commercial activities, contributing to the movement of goods across borders;
- development of quality assurance solutions (16.7%): for the supply chain of oil, gas, nuclear and mining industries.
At the end of 2022, the group operated more than 1,000 inspection offices and laboratories in the world.
Net sales are distributed geographically as follows: the United Kingdom (6.4%), the United States (30%), China and Hong Kong (18.5%), Australia (5.5) and other (39.6%).
INTERTEK GROUP PLC 
