The upward trend could spur Lookers in coming sessions.

The group enjoys upward revisions of earnings per share and growth prospects. Indeed, according to the consensus made by Thomson Reuters analysts, sales are expected to grow for the current fiscal year.

Following a bullish wave, the stock now shows a slight decline that has lead it toward its GBp 166 midterm support. At this level, a re-boost of buyers would enable an upturn in the medium and long term. This level correspond to the 20-week moving average.

The decline observed in the short term offers an interesting entry point for a mid-term trading strategy. Thus, investors could take advantage of the current prices level to buy Lookers. The target will be set at GBp 183.2. The stop loss will be triggered below the GBp 166 support at GBp 163.4.