Serco Group plc : An appropriate bearish level
By Pierre Gilles de la Londe
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 172.5 | GBX 0 | GBX 178.8 | +100% |
From a fundamental viewpoint, EPS have been recently downward revised by analysts who are expecting a sharp decrease between 2013 and 2014. This situation could feed some profit taking in the short run.
Technically, the security is in a negative configuration in the short term as the bearish trend of 50 and 100-day moving averages, show. Moreover shares are currently in contact with the GBp 174.2 resistance. This level could aims a bearish movement toward the GBp 152.7 support.
Therefore, the proximity of the GBp 174.2 resistance is an opportunity to take a short position in Serco Group. The first goal is a return in the GBp 152.7 support area. A stop loss order can be placed above the resistance currently tested.