Booker Group : Continuation of the bullish trend
October 29, 2012 at 05:10 am EDT
By
Entry price | Target | Stop-loss | Potential |
---|
GBX 101.5 |
GBX 0 |
GBX 97.1 |
-100% |
---|
Booker Group continues its bullish trend in order to test new highest level.
The economic and financial situation of the company is still strong. Estimated sales from Thomson Reuters consensus are encouraging.
From a technical viewpoint, the security is trading in a bullish trend in the short and the long term. Increasing moving averages let think there will be no reversal in the coming trading sessions. This growth should help to reach soon the GBp 111.5 long term resistance.
Thanks to these good indicators, it seems relevant to take a long position in Booker Group above GBp 101.5. The target price is the GBp 111.5 resistance. A stop loss will be fixed under the GBp 97.75 short term because a breakdown of this level would damage technical pattern.
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