Victrex plc : Key levels as main support
By Etienne Veber
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 1,617 | GBX 0 | GBX 1,528 | -100% |
Surperformance ratings are highlighting the healthy financial situation, the profitability and the good business predictability of the British plastic manufacturer.
Moreover, the average target price made by analysts correspond to a 16% performance compared to current prices.
The area of the GBp 1550 support should enable the stock to have a new bullish trend. Already tested, this level is a pertinent entry point (daily and weekly) because of the positive stock reaction on it. The current breakout of the 20-day moving average is confirming this upward reversal.
Technically, above these levels, 4-traders analysts are optimistic and count on a return toward the short and mid-term resistances.
As a result, active investors can take immediately a long position in Victrex with a target price at GBp 1696 and in case of breakout of this level, the second target price would be GBp 1780. If there is a breakdown of the GBp 1553 support, investors should close their positions.