Ashtead Group plc : Strong bearish signal
Entry price | Target | Stop-loss | Potential |
---|
GBX 1,090 |
GBX 0 |
GBX 1,122 |
+100% |
---|
This trading strategy is mainly based on technical arguments.
Technically, shares have dropped sharply in the last sessions. This configuration give a strong signal regarding a bearish continuity. Indeed, prices have recently brokedown the short term support at GBp 1115 and the 20-day moving average. Now, the stock is maintained by the 50-day moving average but the recent dynamic argue for the breakdown of this level.
Due to technical arguments, active investors could open a short position on Ashtead Group in order to target the GBp 1027 support. In case of a trend reversal, positions should be cut near to the GBp 1115 area.
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