Ashtead Group plc : The GBp 883 support as argument
Entry price | Target | Stop-loss | Potential |
---|
GBX 884.5 |
GBX 0 |
GBX 845 |
-100% |
---|
The GBp 883 support area, currently tested, might facilitate a technical rebound. The company’s fundamentals could validate this scenario.
According to Surperformance© ratings, the company is an opportunity for a trading strategy.
The security follows a downward trend in the short term, under the GBp 990 resistance area.
In the mid-term, the trend is neutral. The stock is trading within a range between GBp 883 and 1128. Ashtead Group is not likely to continue its downtrend because it is near to the strong GBp 883 and it is oversold.
The trading strategy can benefit from the proximity of the strong support currently tested in order to buy Ashtead Group with a good timing. The potential gain is around 10% to reach the GBp 990.
Investors might place a stop-loss order at GBp 856.5 in order to avoid important losses.
The content herein constitutes a general investment recommendation, prepared in accordance with provisions aimed at preventing market abuse by Surperformance, the publisher of MarketScreener.com. More specifically, this recommendation is based on factual elements and expresses a sincere, complete, and balanced opinion. It relies on internal or external data, considered reliable as of the date of their release. Nevertheless, this information, and the resulting recommendation, may contain inaccuracies, errors, or omissions, for which Surperformance cannot be held responsible. This recommendation, which in no way constitutes investment advice, may not be suitable for all investor profiles. The reader acknowledges and accepts that any investment in a financial instrument involves risks, for which they assume full responsibility, without recourse against Surperformance. Surperformance commits to disclosing any conflict of interest that may affect the objectivity of its recommendations.