Greencore Group plc : Benefit from the uptrend
Entry price | Target | Stop-loss | Potential |
---|
GBX 242.3 |
GBX 0 |
GBX 234 |
-100% |
---|
Greencore Group has still an uptrend and is going toward its highest level.
From a fundamental viewpoint, the company is strong. It has a reasonable valuation with an EV/Sales ratio of 0.95x for 2014. The Thomson Reuters consensus revised regularly upward EPS estimates of the company for 2014 and 2015. The great business predictability emphasize the quality of an investment in the mid-term.
Technically, the security shows a bullish configuration in all time scales. Prices are supported by increasing moving averages. In daily data, an important support at GBp 239 provides a key point to buy the stock in order to benefit from a future upward movement.
In consequence, investors can take a long position in Greencore Group with a first target price at GBp 255. This level is the long term resistance. A new bullish fluctuation could lead the security toward its highest level in case of breakout of this resistance. A stop loss will be set under the short term support at GBp 239.
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