Playtech plc : The bullish trend is not over
By Etienne Veber
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 828.5 | GBX 860 | GBX 798 | +3.8% |
From a fundamental viewpoint, the company is strong. The Thomson Reuters consensus revised regularly upward EPS estimates of the company for the current year (+20% since September 2014).
From a technical viewpoint, the security is trading in a bullish trend in all time horizons. Increasing moving averages let think there will be no reversal in the coming trading sessions. But in the short term, we could expect a return on the GBp 815.5 support which could be a relevant entry point on the stock. Then, the bullish movement should help to reach soon the GBp 860 mid-term resistance.
In consequence, investors can open a long position in Playtech with a first target price at GBp 860. A new bullish fluctuation could lead the security toward its highest level in case of breakout of this resistance. A stop loss will be set under the short term support at GBp 798.