George Weston Limited : Still not running out of steam
Entry price | Target | Stop-loss | Potential |
---|
CA$100.96 |
CA$0 |
CA$98 |
-100% |
---|
The bullish trend should go on.
The company has good fundamentals. Thomson Reuters’ consensus forecasts encouraging results for the current year. Indeed, sales are expected to grow of 6% while EBITDA should increase of 7%. The share has a +11% potential to reach the consensus average price target.
Technically, the share is in an uptrend in the short term as well as in the mid term. It is evolving in a wide tunnel limited by the USD 98.40 support and the USD 106.5 resistance. The security is currently at its 50-day moving average level after a rebound on the short term support. This configuration militate for an acceleration toward the USD 106.5 short term resistance area.
Consequently, investors can take a long position and target this technical threshold. A stop loss should be set at USD 98.
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