Antero Resources Corporation : The USD 20.2 support area is currently tested
By Etienne Veber
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$20.61 | $0 | $19.7 | -100% |
With an EPS estimated at 2.55 USD for this year, Antero Resources is currently paid 8.1x the earnings.
Technically, in daily data, even if moving averages are still in a neutral trened, a positive reaction in the USD 20.2 area should stop this trend and allow a technical rebound towards USD 23.3. Moreover, the technical pattern show a triple bottom on the support, which give one more argument.
Thanks to the technical pattern and Antero Resources’ strong fundamentals, active investors can open a long trade above USD 20.2. The downside potential is limited and the timing seems perfect to benefit from a technical rebound.
The goals will be fixed at USD 23.3 and USD 26.2.
However, a bearish trend would regain the upper hand if the security crosses USD 20.2.