WPP plc : A technical correction is coming
Entry price | Target | Stop-loss | Potential |
---|
GBX 1,265.1 |
GBX 0 |
GBX 1,301.5 |
+100% |
---|
WPP could start a technical downward trend after the rebound in recent sessions.
Regarding a fundamental viewpoint, WPP's EPS have recently been revised downward by analysts which testify a kind of worry about future earnings.
Technically, despite the bullish trend in the short run the stock remains rooted in a bearish trend in medium term. Prices are currently testing the bearish trend line currently around GBp 1270, which should lead to a return on the short term pivot point (GBp 1233) and then the short term support at GBp 1192.
Therefore, the most offensive investor can benefit from the technical configuration to take a short position. The objective will be fixed near to the GBp 1192 support. The stop loss will be set above GBp 1270.
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