Ashtead Group plc : Continuation of the upward movement
By Sébastien Gatel
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 1,130 | GBX 1,217 | GBX 1,079 | +7.7% |
The company’s fundamentals are still strong. Sales are up +12.1% for this year. Analysts from Thomson Reuters consensus have revised largely upward their EPS estimates. The last EPS was at GBp 0.81.
Technically, the security shows a bullish configuration on all time scales. Prices are supported by increasing moving averages. In weekly data, 20-week moving average helps the stock to keep its uptrend.
According to both technical and fundamental elements, it seems opportune to open a long trade at current prices. The bullish trend should allow the security to reach the GBp 1217 resistance. If the stock crosses it, a new target price will be set. A stop loss will be placed under the GBp 1079 level to avoid a downtrend.