Poundland Group PLC : A technical rebound is expected
Entry price | Target | Stop-loss | Potential |
---|
GBX 318 |
GBX 0 |
GBX 306 |
-100% |
---|
The GBp 308 support, currently tested, should allow Poundland Group to rally again.
Financial forecasts are encouraging, sales and EBITDA should display 2 digits growth rate. There is a +13% potential to reach the consensus average target price.
Technically, the share is near a significant long term support that should stop the drop started a few weeks ago. This threshold and the close lower trend line could allow a technical rebound. Moreover, technical indicators show a significant oversold condition which strengthens this bullish scenario.
Consequently, investors may open a long position at current prices and target the GBp 341 resistance. A stop loss should be set at GBp 306.
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