Burberry Group plc : On a trendline and a support
By Etienne Veber
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 1,476 | GBX 0 | GBX 1,426 | -100% |
Fundamental elements are positive : Growth perspectives, increasing margins and upward revisions of EPS. Thanks to these elements, Burberry Group could regain its upward trend after having run out of steam
Following a bullish wave, the stock now shows a slight decline that has lead towards its GBp 1455 medium-term support. On this level, remobilization of buyer flows would allow an uptrend in the medium and long term due also to a bullish trend line.
Investor should watch the security close to GBp 1455 to take advantage of a new upward acceleration in the direction of GBp 1535 and then GBp 1605. A stop loss is placed under GBp 1450.