Superdry plc : Continuation of the bullish trend
By Sandra Pinturault
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 1,176 | GBX 0 | GBX 1,124 | -100% |
From a fundamental viewpoint, the company is strong. The Thomson Reuters consensus revised regularly upward EPS estimates of the company for the current year. Moreover, the group has a positive treasury, sign of a healthy situation.
Technical patterns are in the green: prices are up for several months. The movement should continue in the coming trading sessions. The 20 and 50-day moving average should help to reach the GBp 1234 mid term resistance.
According to both technical and fundamental elements, it seems opportune to take a long position near the GBp 1137 support. The bullish trend should allow the security to reach the GBp 1234 resistance. If the stock crosses it, a new target price will be set. A stop loss will be placed under the GBp 1137 short term support to avoid a downtrend.