Carillion plc : Profit from the technical rebound
By Sébastien Gatel
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 262.99 | GBX 305.5 | GBX 245.4 | +16.16% |
The value, currently oversold, evolves within a downtrend in the medium term. In the short term, this trend could be reversed as it approaches the GBp 245.4, level from which the bullish run could start wide-range movements. This support represents a buying opportunity in the context of a foreseeable technical rebound toward GBp 282.7 and by extension GBp 305.5.
Therefore, it seems opportune to take a long position on Carillion plc at current prices. A confirmation of this pattern would enable the security to reach the GBp 305.5 resistance, so a potential gain of 13 %. Investors should not insist below the GBp 245.4 and a stop-loss order should be placed under this threshold.