Mondi plc : The upward tendency is not over
Entry price | Target | Stop-loss | Potential |
---|
GBX 1,417 |
GBX 0 |
GBX 1,370 |
-100% |
---|
The upward trend could resume.
The firm enjoys an excellent Surperformance rating that underlines the profitability and the business predictability. Moreover, the Thomson Reuters consensus revised regularly upward EPS estimates for the current fiscal year. The present share price displays a +5% potential to reach the analysts average target price.
The security has kept a bullish trend since the beginning of the year. Nevertheless, a contact upon the upper trend line, in the GBp 1521 resistance area, brought back the stock on a relevant threshold. Thus, the GBp 1416 support currently tested should give new momentum to the share. Furthermore, all moving averages remains well oriented.
Consequently, investors could open long positions now and target the GBp 1521 resistance zone. A return under GBp 1416 would invalidate the recovery scenario and trigger the stop-loss order.
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