Standard Chartered PLC : Perfect timing to aim a technical rebound
Entry price | Target | Stop-loss | Potential |
---|
GBX 1,453 |
GBX 1,395 |
GBX 1,468 |
-3.99% |
---|
Standard Chartered shows relatively weak fundamentals and is hesitating since days to succeed a technical rebound.
From a fundamental viewpoint, EPS revisions don't sustained prices because of the sharp decrease of forecasts for last 12 months. Analysts seem also in trouble for evaluating the real potential of the company with a large consensus on the target price.
Standard Chartered PLC is near to its GBp 1448 support. A breakdown of this level will imply a come back to GBp 1395.
A trading strategy can benefit from the comeback to the mid-term support at GBp 1395. In order to sell Standard Chartered PLC in a good timing, we will wait a crossing of the support at GBp 1448. Then, investors might placed a stop loss order above GBp 1448 in order to avoid the consequence of a rebound.
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