Shares in Truist Financial Corporation are trading close to a major resistance level situated around 56.72 USD, which limits upside potential and could cause a corrective move to the downside. Investors should open a short trade and target the $ 46.12.
The prospective high growth for the next fiscal years is among the main assets of the company
The group's activity appears highly profitable thanks to its outperforming net margins.
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.
Growth remains a strong point in this company. In their sales forecast, analysts sound optimistic with regard to sales prospects.
Over the past year, analysts have regularly revised upwards their sales forecast for the company.
Within the weekly time frame the stock shows a bullish technical configuration above the support level at 50.37 USD
The share is close to its long-term resistance in weekly data. Therefore, the potential should be limited. However, a further bullish movement when crossing this resistance will be a positive signal.
The stock is currently in contact with a medium-term resistance that must be gotten rid of so as to resume the upward trend.
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