Eurasia Drilling Co Ltd : To new upward targets
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$38.94 | $43.2 | $38.4 | +10.94% |
From a fundamental viewpoint, analysts polled by Thomson Reuters have regularly revised upward the earning per share estimates for 2012. Consequently, profitability is improving, showing a relatively good financial health of the company. Moreover, sales are expected to grow by more than 16% in 2012.
Technically, prices continue to increase sharply for several month. On all time scales, all indicators are green and moving averages are well oriented. The security is now moving toward the mid-term resistance located at USD 40 and seems able to breakout soon. This crossing would provide a strong buy signal, and the security could reach the USD 43.2.
Therefore, investors could take a long position in Eurasia Drilling Company, on crossing of the USD 40 mid-term resistance. The first objective will bet set at USD 43.2. A stop loss should be placed below the effective entry point.