Beacon Roofing Supply, Inc. : An opportune reversal
Entry price | Target | Stop-loss | Potential |
---|
$25.95 |
$27.6 |
$24.5 |
+6.36% |
---|
The upward trend could come to support Beacon Roofing Supply in the coming sessions.
The group enjoys upward revisions in earnings per share and growth prospects. Indeed, the Thomson Reuters consensus expect sales to grow for the fiscal year at $1.8 billion against $1.6 billion for the previous year.
Graphically, buyer flows are reduced. If the trend is now neutral in the short term, profit taking is part of a rebound on the USD 25.5 and therefore does not affect the upward trend in the medium and long term.
Consequently, we expect a decline toward the 100 and 50-day moving averages at USD 25.5. The most active investors can buy the share in this area and target a return toward USD 27.6. A stop loss can be placed under the USD 24.8 support.
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.