Serco Group plc : Open a trade near the GBp 538.5
Entry price | Target | Stop-loss | Potential |
---|
GBX 556.5 |
GBX 586 |
GBX 528 |
+5.3% |
---|
The GBp 538.5 support area might facilitate a technical rebound. The company’s fundamentals could validate this scenario.
According to Surperformance rating, the company is an opportunity for a trading strategy. Indeed, it is a good compromise between its valuation and its visibility.
Technically, the security fell sharply for several weeks. This fall has lead Serco Group towards the GBp 538.5 support area, which could become useful as a stepping stone for a technical rebound. The first target of this bullish trend is the GBp 586 resistance. Even though moving averages are still in a bearish trend, the oversold situation could encourage a renewed interest in Serco Group.
Considering technical and fundamental elements, it seems to be an appropriate timing to take a long position in Serco Group near the GBp 538.5 support area. A first target price will be the GBp 586 resistance, ie a potential of 5.3%. A stop loss order will be placed under the mid-term support. Only a crossing of GBp 586 would validate a bullish trend in order to aim a higher target price.
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