Mondi plc : Should initiate a rebound
Entry price | Target | Stop-loss | Potential |
---|
GBX 1,155 |
GBX 0 |
GBX 1,080 |
-100% |
---|
Mondi shows relatively strong fundamentals and is coming back to attractive prices.
According to Surperformance© ratings, the company offers an opportunity for an investment and also for a trading strategy.
After several weeks of a downward movement, the stock is experiencing an upward reversal on the GBp 1125.
Technical indicators illustrate the oversold situation of the stock on the current price area. The GBp 1124 support could cause a positive reaction for the coming trading sessions and allow a technical rebound towards the GBp 1222 mid-term resistance and then the long-term target price is GBp 1360.
So as to make the most of a potential technical rebound of Mondi, it seems opportune to open a long position at current prices.
A confirmation of this pattern would enable the security to reach the GBp 1220 and GBp 1360 resistances. Investors should not insist under GBp 1124 and are better of placing a stop-loss order under this threshold.
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