James Fisher and Sons plc : Bullish trend line as argument
By Etienne Veber
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 960 | GBX 0 | GBX 916 | -100% |
Since February, EPS estimates for 2013 from Thomson Reuters analysts have been revised upward by 10%. Concerning the group's revenues, the situation is similar with a progression of 5%.
Graphically, buyer flows are reduced. If the trend is now bearish in the short term, profit taking is part of a rebound on the GBp 933/950 and therefore does not affect the upward trend in the medium and long term. Short term support and the bullish trend line currently tested gives argument for a reversal.
Investor should watch the security close to GBp 933 to take advantage of a new upward acceleration in the direction of GBp 1025. A stop loss is placed under GBp 920.