In the past few sessions, easyJet shares have suffered from a sharp fall and is now coming back to significant level support.

According to Surperformance rating, the company is an opportunity for a trading strategy. Indeed, it is a good compromise between its value and its visibility. Moreover, brokers have lately revised upward their revenues' estimates and count on EPS of GBp 61.7 for this year.

Currently the stock is oversold and, in the mid-term, is trading in a bearish trend. In the short term, this trend is reversed upon contact with the GBp 1184 area. EasyJet should be able to confirm its increase in the next trading sessions. This support is a trading opportunity in order to anticipate a technical rebound towards GBp 1274 and by extension towards GBp 1360.

Considering technical and fundamental elements, it seems to be an appropriate timing to immediately take a long position in easyJet plc in order to benefit from the GBp 1184 support area. A first target price will be the GBp 1274 resistance and then the GBp 1360. A stop loss order will be placed under the mid-term support currently tested. Only a crossing of GBp 1274 would validate a bullish trend in order to aim a higher target price (GB9 1360).

On November 11, 2013, 4-Traders' team had a long position of 287 Easyjet's stocks, in its European Portfolio, bought at GBp 1229 on June 10, 2013.