Greencore Group plc : The share is well oriented
Entry price | Target | Stop-loss | Potential |
---|
GBX 332.1 |
GBX 360 |
GBX 328.9 |
+8.4% |
---|
Greencore Group continues its bullish rally to test new highs.
EPS estimates from Thomson Reuters’ consensus were upward revised over the last 12 months. Operating income is expected to increase by 12% after a 10% rise in 2014.
Both in weekly and daily data, moving averages are well oriented. The share recently touched the upper trend line. The security is in a bullish channel, which should lead the stock to breakout the GBp 338.6 resistance.
In the event of such a breakthrough, investors might take a long position and set as a first target the GBp 350/360 area. A stop loss should be set below the 20-day moving average once the trade is open.
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