Inchcape is a multinational automotive retail and services company headquartered in London, which stock price swiftly rebounds from the daily support at GBp 568.50.

Fundamental data hold the stock up. A growth potential is observed in terms of sales around 7%, net income by 4% and EPS by 4% for the current year. With a 14.0 P/E ratio for the current year to 12.4 estimated for 2014, the company seems to be undervalued. This fact represents an attractive opportunity for investors.

However, Inchcape comes from a consolidation process where the stock price has strongly decreased. The trend line suggests an upward tendency and this confirmed on early trades is reinforced by the GBp 568.50 support. 50 and 100-day moving averages levels should bring the price to the target zone.

Investors are encouraged to take a long position at current trade range GBp 568.50-588.50 in order to take profit of a climbing until the target (GBp 614.50) is reached. A stop loss is placed below GBp 556.5.