Big Yellow Group Plc : A possible correction
By Anas Boumedian
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 638 | GBX 0 | GBX 669 | +100% |
The current price of the stock is higher than analysts average target price, which is set at GBp 619.
Technically, the stock evolves in a bullish trend. However, the GBp 658 threshold seems to constitute a resistance against the upward movement, and is likely to lead to a consolidation phase towards the GBp 614 support.
Therefore, it seems opportune to take a short position at the current price in order to benefit from this likely correction. The target price will be set at GBp 614 and a stop loss will be placed over GBP 658, in case of a bullish movement reversal.