The Scotts Miracle-Gro Company : Close to a key resistance level
Entry price | Target | Stop-loss | Potential |
---|
$144.22 |
$159 |
$138 |
+10.25% |
---|
The Scotts Miracle-Gro Company shares are closing in on important technical levels. The technical chart pattern suggests that the currently tested resistance will be broken and new upside potential arises while volatility is likely to increase. Investors could get ahead of this signal in order to benefit from a better risk/reward ratio.
Summary● The company has strong fundamentals. More than 70% of listed companies have a lower mix of growth, profitability, debt and visibility criteria.
● In a short-term perspective, the company has interesting fundamentals.
Strengths● There is high visibility into the group's activities for the coming years. Outlooks on future revenues from analysts covering the equity remain similar. Such hardly dispersed estimates support highly predictable sales for the current and upcoming fiscal years.
● Over the last 4 months, analysts have significantly revised upwards the company's estimated sales.
● Over the past year, analysts have regularly revised upwards their sales forecast for the company.
● For several months, analysts have been revising their EPS estimates roughly upwards.
● For the past year, analysts covering the stock have been revising their EPS expectations upwards in a significant manner.
● The tendency within the weekly time frame is positive above the technical support level at 111.65 USD
Weaknesses● Stock prices approach a strong long-term resistance in weekly data at USD 150.7.
● The stock is close to a major daily resistance at USD 150.7, which should be gotten rid of so as to gain new appreciation potential.
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