Intertek Group, listed on the London Stock Exchange, could breakout the GBp 3451 resistance in the short term and get out of a weekly trading range.
Regarding the fundamentals, company's sales have been regularly revised upward by the Thomson Reuters analysts consensus and so are EPS estimates.
Graphically, the security is up 10% since the 1st January. It seems able to continue this uptrend supported by 20 and 50-day moving averages and will soon test again the GBp 3450 short-term resistance. We anticipate a crossing of this level, given the upward orientation of the stock in the medium and long term. Above GBp 3450, a buy signal will be given.
Exceeding the technical line at GBp 3450 would point to ambitious upward targets. In this case, market participants could buy this stock with an initial target of GBp 3700. If investors reduce long-side exposure for profit-taking, a bearish trend would happen below GBp 3400 and so this strategy would be invalidated.
The information, charts, data, views, or comments provided by SURPERFORMANCE SAS are intended for investors who have the necessary knowledge and experience to understand and appreciate the information contained within. These items are disseminated for personal reference only. They do not constitute an offer or solicitation to buy or sell financial products or services, nor an investment advice.
The use of the information disseminated takes place under the investor's sole responsibility, without recourse against SURPERFORMANCE SAS. SURPERFORMANCE SAS will not be liable, whether in contract, in tort, under any warranty, for errors, omissions, improper investments, or adverse evolution of markets.
Provides technical, scientific and inspection servicesIntertek Group Plc provides safety, testing and inspecting products and services to industries worldwide.It offers services from auditing and inspection, training, advisory, quality assurance and certification.The company operates its business...