Senior plc : Near support and trendline
Entry price | Target | Stop-loss | Potential |
---|
GBX 282 |
GBX 0 |
GBX 274.5 |
-100% |
---|
Senior’s share price was heavily penalized and is now in an oversold situation near a solid support area.
However, analysts have revised slightly downward their earnings forecasts. Growth perspective are encouraging and show a 20% revenue progression in a 2017 horizon.
Technically, in daily data, even if moving averages are still in a downtrend, a positive reaction in the GBp 275 area stopped this trend and allow a technical rebound towards GBp 293.35 (20-day moving average). Moreover, technical indicators show a significant oversold condition which strengthens this bullish scenario.
Considering technical and fundamental elements, it seems to be an appropriate timing to immediately open a long position on Senior stock in order to benefit from the GBp 275 support area. A first target price will be the GBp 293.35 resistance, ie a potential of 4%. A stop loss order will be placed under the mid-term support currently tested.
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