Shire : The bullish trend continues
Entry price | Target | Stop-loss | Potential |
---|
GBX 3,034 |
GBX 0 |
GBX 2,885 |
-100% |
---|
Shire continues its bullish trend and should test soon new highest level.
The company’s fundamentals are strong and the valuation remains low. Profits are expected to be up by more than 30% for this year and the next one. Analysts from Thomson Reuters consensus have revised largely upward their target price.
Technically, the security is in an uptrend on all time scales and is supported by moving averages. The bullish trend will not be stopped until prices are above the GBp 2853 support. This trend has allowed the stock to breakout its GBp 3019 long term resistance, which should now help to reach the next target around GBp 3300.
According to both technical and fundamental elements, it seems opportune to take a long position at the current price. The bullish trend should allow the security to reach the GBp 3300. A stop loss will be placed under the 20-day moving average.
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