Borregaard ASA : A support level that should be taken advantage of
Entry price | Target | Stop-loss | Potential |
---|
NOK 89 |
NOK 95.35 |
NOK 87 |
+7.13% |
---|
The recent downturn has taken Borregaard ASA shares close to a medium term support level around 87.1 NOK. The timing for a long trade in the stock appears good.
Summary● 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.
Strengths● The current area is a good opportunity for investors interested in buying the stock in a mid or long-term perspective. Indeed, the share is moving closer to its lower bound at NOK 87.1 NOK in weekly data.
● Share prices are approaching a strong support area in daily data, which offers good timing for investors.
● 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 have a positive opinion on this stock. Average consensus recommends overweighting or purchasing the stock.
● The difference between current prices and the average target price is rather important and implies a significant appreciation potential for the stock.
● Within the weekly time frame the stock shows a bullish technical configuration above the support level at 87.1 NOK
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