EVRAZ plc : Once again short position
By Oscar Salza
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 233.9 | GBX 0 | GBX 243 | +100% |
The company’s financial health, even if it is cheap with a low price earnings ratio, is still fragile. Analysts have revised downward earnings per share estimates for the next two years. Also future revenues are stagnant, according to Reuters forecast.
Graphically the share is in bearish trend on mid and long term. After a partially recovery the share is trading once again in downward movement. The share should reach the support level of GBp 211.5.
For this we suggest a short position with a target price of GBp 211.5. In case of breakdown of this level should open new low scenarios. Stop loss will be placed above point pivot at GBp 241.6