The technical support around 2041 GBp emanating from daily closing prices could trigger a technical rebound for Associated British Foods shares. Investors should buy the stock at current prices near GBp 2041 in order to target the GBp 2234.
The company has strong fundamentals. More than 70% of listed companies have a lower mix of growth, profitability, debt and visibility criteria.
The company has solid fundamentals for a short-term investment strategy.
The share is getting closer to its long-term support in weekly data, at GBp 2070, which offers good timing for buyers.
The close medium term support offers good timing for purchasing the stock.
There is high visibility into the group's activities for the coming years. Outlooks on future revenues from analysts covering the equity remain similar. Such hardly dispersed estimates support highly predictable sales for the current and upcoming fiscal years.
Historically, the company has been releasing figures that are above expectations.
Analysts covering this company mostly recommend stock overweighting or purchase.
The average target price set by analysts covering the stock is above current prices and offers a tremendous appreciation potential.
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