In the past few sessions, Booker Group shares have suffered from a sharp fall and are now coming back to significant level support.

From a fundamental viewpoint, the security is cheap with an "EV/Sales" ratio at 0.42x for the current year (and 0.39x for the next one). Growth prospect are encouraging if we focus on analyst expectations for the next years. Moreover, they have regularly revised upward their opinion on the future profits of the company.

After several days of horizontal fluctuations within the range GBp 124.9 / GBp 134.7, the stock is coming back close to the lower limit of this range. Moving averages are oriented downward and technical indicators illustrate the oversold situation. The GBp 124.9 area, currently tested, is a support in daily and weekly data which reinforces its importance. It could cause a positive reaction and, thanks to these elements, help the stock to return toward the GBp 134.7 resistance.

So as to make the most of a potential technical rebound of Booker Group, it seems opportune to open a long position at the current price. A confirmation of this pattern would enable the security to reach the GBp 134.7. Investors should not insist under GBp 124.9 and are better of placing a stop loss order under this threshold at GBp 122.1.