Ashtead Group plc : Continuation of the upward movement
Entry price | Target | Stop-loss | Potential |
---|
GBX 1,130 |
GBX 1,217 |
GBX 1,079 |
+7.7% |
---|
The british company, specialized in rental for industrial and construction equipment, is in an uptrend with the GBp 1217 resistance in line of sight.
The company’s fundamentals are still strong. Sales are up +12.1% for this year. Analysts from Thomson Reuters consensus have revised largely upward their EPS estimates. The last EPS was at GBp 0.81.
Technically, the security shows a bullish configuration on all time scales. Prices are supported by increasing moving averages. In weekly data, 20-week moving average helps the stock to keep its uptrend.
According to both technical and fundamental elements, it seems opportune to open a long trade at current prices. The bullish trend should allow the security to reach the GBp 1217 resistance. If the stock crosses it, a new target price will be set. A stop loss will be placed under the GBp 1079 level to avoid a downtrend.
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