Tullett Prebon could regain its upward trend after having ran out of steam.

According to Surperformance ratings, the group has strong fundamentals, both in terms of business predictability and valuation. Based on current prices, the company is valued at 1.03 times its sales. In addition, analysts have been revising upward their earnings estimates and nowadays expect a profit of 47.4 GBp per share for the current year. Moreover, the company offers a 4.5% yield, which is high.

Tullett Prebon is in an uptrend in the medium and long term, although, the last bearish movement would throw it back near a major support level. This threshold, if preserved, will enable the equity to take advantage of the bullish movement. The target will then be the first resistance at GBp 398.

Consequently, we expect a rebound on the pertinent GBp 377.6 support. Most active investors could buy the equity near this price targeting a return to GBp 398. A stop-loss order will be placed below the GBp 377.6 support.