Big Yellow Group Plc : Benefit from the uptrend
Entry price | Target | Stop-loss | Potential |
---|
GBX 624 |
GBX 0 |
GBX 602.5 |
-100% |
---|
Big Yellow Group could reach its GBp 667 resistance.
From a fundamental viewpoint, the company is strong. The Thomson Reuters consensus revised regularly upward EPS estimates of the company for the current year.
Technically, the security is in an uptrend on all time scales and supported by moving averages. The bullish trend will not be stopped until prices are above the GBp 597.5 short term support. This trend should allow the stock to reach its GBp 667 short term resistance, which will be the first target price.
Therefore, taking into account the strong fundamentals and technical patterns, it seems opportune to take a long position at the current price in order to benefit from a possible reversal. The first target price is the GBp 667 resistance. A breakout of this level will be a new bullish signal for higher target price. A stop loss will be placed under the GBp 612.5 (50-day moving average).
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