Headlam Group plc : The GBp 472 supports the technical rebound
By Etienne Veber
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 486 | GBX 0 | GBX 468.5 | -100% |
The security follows a downward trend in the short term, under the GBp 497 resistance area. In the mid-term, the trend is neutral. The stock is trading within a range between GBp 460 and GBp 522.
The stock is not likely to continue its downward trend thanks to the technical rebound on the GBP 472 level corresponding to a daily support and a positive trendline.
Therefore, it seems opportune to open a long trade on Headlam Group at current prices. A confirmation of this pattern would enable the security to reach the GBp 522 resistance, so a potential gain of around 7.5%. Investors should not insist below the GBp 472 and a stop-loss order should be placed under this threshold.