In the past few sessions, Shoppers Drug Marts shares have suffered from a sharp fall and is now coming back on significant level support.

According to Surperformance rating, the company is an opportunity for a trading strategy. Indeed, it is a good compromise between its value and its visibility.

Technically, the security fell sharply for several weeks. This fall has lead Shoppers Drug Mart towards the CAD 40.8 support area which could become useful as a stepping stone for a technical rebound. The target of this bullish trend is the CAD 43.2 level. Even though moving averages are neutral, the proximity of the support could encourage a renewed interest in the stock.

So as to make the most of a potential technical rebound of Shoppers Drug Mart, it seems opportune to take a long position at the current price. A confirmation of this pattern would enable the security to reach the CAD 43. Investors should not insist under CAD 40.8 and are encourage to place a stop loss order under this threshold.