The upward trend could spur Cranswick in coming sessions.
From a fundamental viewpoint, sales are estimated in perpetual growth for the next two years. As much as margins are well preserved, the EPS is expected to grow by 2.7% between 2014 and 2015.
Technically, the uptrend in the medium and long term should cover the equity of a major downtrend. In the short term, a decline could lead the share near the GBp 1350 support. Therefore, if a technical rebound takes place the target would be fixed near the GBp 1450 pivot point.
The decline observed in the short term offers an interesting entry point for a mid-term trading strategy. Thus, investors could take advantage of the short term support level to buy Cranswick. The target will be set at GBp 1450 and by extension GBp 1500. The stop loss will be triggered below the GBp 1349.
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Cranswick plc is a United Kingdom-based food producer company, which is engaged in manufacturing and supplying food products to United Kingdom grocery retailers, the food service sector and other United Kingdom and global food producers. It offers various products, such as fresh pork, fresh chicken, coated chicken, ready-to-eat chicken, gourmet sausage, gourmet bacon and gammon, gourmet pastry, cooked meats, charcuterie, olives and antipasti, ambient Mediterranean, and houmous and dips. Its brands include Bodega, Cypressa and Ramona. The Bodega brand provides snacks and sharing boxes, which are available in Italian, German and Spanish flavors. The Cypressa offers olives, antipasti, olive oils and vinegars, cheese, tahini, nuts, seeds and dried fruits; cereals and pulses; snacks and sweets; and wrap kits. The Ramona brand's products include houmous, falafel, dips and burgers. It also produces pet food and supplies a number of brands, including its own brands, Vitalin and Alpha Feeds.