In the past few sessions Ashtead Group's share sharply fell but the stock is presently coming back to a significant support level.

The firm enjoy an excellent Surperformance rating which underlines the revenue growth, profitability and the earnings quality. There is a strong buyer consensus (13/16) whose average target price is displaying an upward potential over 30%. Financial forecasts are encouraging as EBITDA and net income should show 2 digit growth rates for 2016.

Graphically, the security is in a negative configuration in the short term as the bearish trend of the 20-day moving average, currently at GBp 1011.5, shows. Nevertheless, the stock seems being oversold, near its GBp 937.5 support in daily data. This area gathers the lower trend line and the 100-week MA.

Consequently, investors can expect that threshold to launch a technical rebound. A first target price could be the GBp 1018 resistance and a stop loss order should be set at GBp 932.