Fidessa Group plc : The stock is getting oversold
Entry price | Target | Stop-loss | Potential |
---|
GBX 2,201 |
GBX 0 |
GBX 2,101 |
-100% |
---|
The technical thresholds, currently tested, should allow Fidessa Group to rally again.
The company displays a high profitability, as the net margin of 10.9% in 2015 shows. Moreover, Thomson Reuters estimates underline the strong growth potential of the business.
Technically, the security sharply fell for several weeks. This fall lead the stock toward the GBp 2111 support area, which could become a stepping stone for a bounce in prices. This push could draw an upturn movement, thus launching the equity toward the GBp 2508 resistance level. The bottom line of the rising wedge should also support the subsequent bull run.
Most active investors could therefore open buyers positions to aim the GBp 2351 pivot point; the crossing of this level would open the way to new objectives. However, the position needs to be protected by a stop-loss order below the GBp 2111.
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