ZPG PLC : Bearish arguments
Entry price | Target | Stop-loss | Potential |
---|
GBX 170.5 |
GBX 0 |
GBX 185.75 |
+100% |
---|
Zoopla Property Group is in a bearish configuration which could feed some profit taking.
From a fundamental viewpoint, analysts have largely revised downward their EPS estimates during the last 6 months. This situation could feed some profit taking in the short run. Moreover analysts' target prices are scattered which argue for a lack of visibility.
Technically, shares have recently brokeout the GBp 174.1 short term pivot point. So, prices could reach the next support at GBp 150.8 in coming sessions. Daily moving averages are sharply downward and legitimate our bearish scenario.
A seller position can be opened on Zoopla Property Group at current prices in order to reach the GBp 150.8 support. In case of reversal, positions should be closed above the GBp 174.1 area.
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