Restaurant Group : The mid-term trend could accelerate in few sessions
Entry price | Target | Stop-loss | Potential |
---|
GBX 527 |
GBX 0 |
GBX 504.2 |
-100% |
---|
Take advantage of the technical rebound.
The group enjoys upward revisions in earnings per share and growth prospects. Indeed, the Thomson Reuters consensus expect sales to grow for the fiscal year at GBP 532 million against GBP 487 million for the previous year.
Restaurant Group is in an uptrend in the medium and long term, but the last bearish movement returns stock close to a major support level. This threshold, if preserved, will enable to initiate a technical rebound.
In this configuration, a decrease seems unthinkable bellow the GBp 520.5 area. Investors could take a buy order on this level to target the GBp 554.5 and by extension the GBp 575. A stop loss should be placed below the medium term support.
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