Tenneco Inc. : A bullish potential
By Alexandre Nutte
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$30.46 | $0 | $28.6 | -100% |
The company is trading at a very low level in relation to historic benchmark as shown by the ratio “enterprise value/revenue” at 0.37x and the price earning ratio is 8.93x, for this fiscal year. According to Thomson-Reuters' consensus, the average target price is set at USD 40.5, which represents a potential gain of 29 % compared to the current price.
Technically, in weekly data, after a consolidation period on the USD 24.8 support, the stock has started a bullish movement and the selling pressure has run out of steam. This one could continue to the USD 39.7 resistance.
In this context, investors can take a long position on this share at the current price and to target the USD 39.7 technical line. The stop loss will be placed under the 50-day moving average.