J D Wetherspoon plc : The bullish trend continues
Entry price | Target | Stop-loss | Potential |
---|
GBX 713.5 |
GBX 0 |
GBX 688 |
-100% |
---|
The GBp 767 resistance is in line of sight.
The company’s fundamentals are still strong. Sales are estimated to be up +7.4% in 2013. Analysts from Thomson Reuters consensus have revised largely upward their EPS estimates. The last EPS was at GBp 45.7.
From a technical viewpoint, the security is trading in a bullish trend on all time scales. Increasing moving averages let think there will be no reversal in the coming trading sessions. This growth should help to reach soon the GBp 767 short term resistance.
Thanks to these good indicators, it seems relevant to take a long position in J D Wetherspoon at the current price. The target price is the GBp 767 resistance. A stop loss will be set under the GBp 703.5 short term support because a breakdown of this level would damage technical pattern.
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