Stagecoach Group plc : A technical rebound under construction
Entry price | Target | Stop-loss | Potential |
---|
GBX 343.54 |
GBX 0 |
GBX 338.3 |
-100% |
---|
The GBp 343.8 support, currently tested, should allow Stagecoach Group to rally again.
The stock is currently oversold with a EV/Revenue ratio of 0.78x for 2015. Analysts estimates shows a great growth potential for the company.
Graphically, the stock is trading in a mid-term bearish trend. In the short term, this trend could be reversed after contact with the GBp 343.8 area. Stagecoach Group should be able to confirm its rebound in further sessions. This support means a trading opportunity in order to anticipate a technical rebound toward GBp 358.4.
Therefore, the proximity of the GBp 343.8 support is an opportunity to take a long position in Stagecoach Group. The first goal is a return in the GBp 358.4 resistance area. A stop loss order can be placed under the support currently tested.
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