Ashtead Group has still an uptrend and is going toward its highest level.
The company’s fundamentals are still strong. Sales are up 14% for one year. Analysts from Thomson Reuters consensus have revised largely upward their EPS estimates.
Technically, the security shows a bullish configuration on all time scales. Prices are supported by increasing moving averages. In daily data, 20-day moving average helps the stock to keep its uptrend.
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 new highs. The target is set at GBp 515. A stop loss will be placed under the GBp 461.1 short term support to avoid a downtrend.
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