Canadian Tire Corporation, Limited : Running out of steam as opportunity
Entry price | Target | Stop-loss | Potential |
---|
CA$70.74 |
CA$0 |
CA$68.8 |
-100% |
---|
The Canadian retail company is in an upward trend which could come to support the share in the coming sessions.
Moreover, at current price, the company is trading 11.14 times its earnings for this year and thus has a significant potential.
Following a bullish wave, the stock now shows a slight decline that should lead towards its CAD 69.3 medium-term support. On this level, remobilization of buyer flows would allow the stock to reach the CAD 73 resistance.
A decline seems possible on the CAD 69.3 area. It could be a basis for a purchase to target CAD 73. A stop loss will be fixed below the entry point to limit the risk.
The content herein constitutes a general investment recommendation, prepared in accordance with provisions aimed at preventing market abuse by Surperformance, the publisher of MarketScreener.com. More specifically, this recommendation is based on factual elements and expresses a sincere, complete, and balanced opinion. It relies on internal or external data, considered reliable as of the date of their release. Nevertheless, this information, and the resulting recommendation, may contain inaccuracies, errors, or omissions, for which Surperformance cannot be held responsible. This recommendation, which in no way constitutes investment advice, may not be suitable for all investor profiles. The reader acknowledges and accepts that any investment in a financial instrument involves risks, for which they assume full responsibility, without recourse against Surperformance. Surperformance commits to disclosing any conflict of interest that may affect the objectivity of its recommendations.