Equifax Inc. : Trading opportunity
Entry price | Target | Stop-loss | Potential |
---|
$59.67 |
$0 |
$57.9 |
-100% |
---|
Equifax could regain its upward trend after having run out of steam.
The group enjoys upward revisions in earnings per share and growth prospects. Indeed, the Thomson Reuters consensus expect sales to grow by 7% for the fiscal year at 2.3 billion dollars compared to 2.16 billion dollars for the previous year.
Equifax is in an uptrend in the medium and long term. However, the last bearish movement returns close to the USD 59.1 major support level. The latter corresponds to a bullish trend line and the 100-day moving average. This threshold, if preserved, will enable to enjoy the bullish movement.
In this configuration, investors could take a buy order on this level and get a good entry point to aim USD 63.8. A stop loss must be placed below the USD 59.1 support.
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