Morgan Advanced Materials plc : Stock running out of steam as an opportunity
By Florian Girard
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 327.15 | GBX 0 | GBX 316 | -100% |
There is still an upward potential to reach the consensus average target price. Moreover, in regard of the P/E ratio the company seems under-valued in comparison with its peers. In addition, the stock offer a yield beyond 3%.
Following a bullish run, the stock successfully tested the GBp 355.1 resistance that led it toward the GBp 325 midterm support. This support area with the help of the rising 100-day MA could re-boost buyers flows, which would enable an upturn in the medium and long term.
Consequently, investors may buy the share at current prices and target the GBp 355 level. A stop loss order should be triggered at GBp 316.