The GBp 788.5 support area, currently tested, might facilitate a technical rebound.

The company’s fundamentals could validate this scenario. According to Surperformance rating, the company is an opportunity for a trading strategy. Indeed, it is a good compromise between its value and its visibility.

After several weeks of horizontal fluctuations within the mid-term range GBp 766 / GBp 915.5, the stock is coming back close to the lower limit of the range.
Technical indicators illustrate the oversold situation and the uptrend close to the stock could give arguments. The GBp 788.5 area could cause a positive reaction for the coming trading sessions and allow a technical rebound towards the GBp 855 mid-term resistance and then the long-term target price is GBp 915.5.

Considering technical and fundamental elements, it seems to be an appropriate timing to immediately take a long position in John Wood Group in order to benefit from the GBp 788.5 support area. A first target price will be the GBp 855 resistance. A stop loss order will be placed under the mid-term support. Only a crossing of GBp 855 would validate a bullish trend in order to aim a higher target price.