Salamander Energy Plc : The bullish trend is not over
Entry price | Target | Stop-loss | Potential |
---|
GBX 213.2 |
GBX 0 |
GBX 204 |
-100% |
---|
Salamander Energy is trading in a bullish trend and several elements argue for the continuation of this trend.
The company shows strong fundamentals. Firstly, the high valuation of the group shows a great investors confidence in it because there are ready to pay a high price for the stock. Moreover, on February the consensus has largely revised upward EPS estimates for this year and that let see a great potential for the security on the stock market.
Technical patterns are in the green: prices are up for several months. The trend should continue in the coming trading sessions. The security has recently broken the GBp 211.2 resistance and may continue its ascension towards the GBp 232.6 resistance.
It seems interesting to take a long position at the current price. The first target price will be set at GBp 232.6. Once this level reached the stock could continue towards new annual highs. A stop loss must be placed below the 211.2 support.
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