Lekoil Limited : Back on a significant threshold
By Etienne Veber
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 21.25 | GBX 0 | GBX 19.1 | -100% |
From a fundamental viewpoint, the company shows positive information with growth perspective of revenues and margins.
Technically, the security is in a consolidation area limited by the significant 19.3 support and the GBp 29.5 resistance. Above the lower limit, investors could aim for a rebound toward the daily moving averages around GBp 24.75.
Investors can take a long position within the GBp 19.25/GBp 20.75 area. In first instance, the target price will be the 20-day moving average around GBp 25. In case of breakdown of the GBp 19.25 support at the closing price, investors should close their trades.