In the past few sessions, Ricardo shares have suffered from a sharp fall and are now coming back to significant level support.

According to Surperformance© ratings, the company is an opportunity for a trading strategy. The company has growth characteristics as shown by future revenues expected by the Thomson-Reuters consensus.

The security follows a downward trend in the short and mid-term, under the GBp 865 resistance area.
The trend is bearish , however, the selling pressure could soon run out of steam. Indeed, whereas the stock shows an oversold condition, the GBp 770.5 support area currently tested might stop the bearish trend in the short term.

Thanks to the technical pattern and Ricardo’s strong fundamentals, active investors can open long trades above GBp 770.5. The downside potential is limited and the timing seems perfect to benefit from a technical rebound.
The goals will be fixed at GBp 835 in a first time and then at GBp 865.
However, a bearish trend would regain the upper hand if the security crosses GBp 770.5.