The GBp 883 support area, currently tested, might facilitate a technical rebound. The company’s fundamentals could validate this scenario.

According to Surperformance© ratings, the company is an opportunity for a trading strategy.

The security follows a downward trend in the short term, under the GBp 990 resistance area.
In the mid-term, the trend is neutral. The stock is trading within a range between GBp 883 and 1128. Ashtead Group is not likely to continue its downtrend because it is near to the strong GBp 883 and it is oversold.

The trading strategy can benefit from the proximity of the strong support currently tested in order to buy Ashtead Group with a good timing. The potential gain is around 10% to reach the GBp 990.
Investors might place a stop-loss order at GBp 856.5 in order to avoid important losses.