H.J. Heinz Company : The mid-term trend could accelerate in few sessions
By Josselin Giraud
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$55.49 | $0 | $55.16 | -100% |
The group enjoys upward revisions in earnings per share and growth prospects. Indeed, the Thomson Reuters consensus expect sales to grow for the fiscal year at $11.65 billion against $10.7 billion for the previous year.
Technically, the uptrend in the medium and long term should protect the stock of a major downtrend. In the short term, a decline could lead the share to the USD 54.30 support. Therefore, a technical rebound will fix an objective near the USD 57.40 short-term resistance.
The decline observed in the short term offers an interesting entry point for a mid-term investment. Investors will take advantage of the current area to buy Heinz Company. The objective will be set at USD 57.40 with a stop loss placed below the USD 55.50 support.