ITV plc : Continuation of the bullish trend
Entry price | Target | Stop-loss | Potential |
---|
GBX 129.1 |
GBX 132.3 |
GBX 120.2 |
+2.48% |
---|
ITV continues its bullish trend in order to test new highest level.
The economic and financial situation of the company is still strong. Estimated sales from Thomson Reuters consensus are encouraging. EPS estimates from the Thomson Reuters consensus have been regularly revised upward for this year.
Technical patterns are in the green : prices are up for several months. We expect a comeback towards the GBp 124.2 short term resistance, corresponding to the 50-day moving average. This level should allow the stock to bounce towards the GBp 132.3 resistance.
According to both technical and fundamental elements, it seems opportune to take a long position in case of a comeback to the GBp 124.2 support. The bullish trend should allow the security to reach the GBp 132.3 resistance. If the stock crosses it, a new target price will be set. A stop loss will be placed under the GBp 124.2 short term support to avoid a downtrend.
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