Persimmon Plc : The share is well oriented
Entry price | Target | Stop-loss | Potential |
---|
GBX 1,354.42 |
GBX 1,450 |
GBX 1,309 |
+7.06% |
---|
Persimmon is still well oriented and is going to new highs.
The fundamental qualities of the group are clearly attractive as evidenced by the upward revisions of earnings per share and revenue estimations. The profitability of the company's business remains good. The high levels of valuation show the interest of investors for this security.
From a technical viewpoint, prices are well oriented in a bullish trend on different time scales. This positive trend will help to breakout the GBp 1355 resistance and to reach new highs. By the swing effect, the target will be fixed at GBp 1450.
Therefore, investors could take a long position in Persimmon, on crossing of the GBp 1354 mid-term resistance. A stop loss should be placed below GBp 1315.
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