Brown & Brown, Inc. : Profit taking gives a good opportunity
By Oscar Salza
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$25.65 | $0 | $24.65 | -100% |
Last 16 July, the company released its results. The company recorded revenue growth of 17% to $290 million, with earnings per share $0.29 up 11.5% year over year, missing analysts consensus forecast, which estimated EPS of 31 cents.
Brown & Brown is in bullish trend in the medium and long term. In weekly data, moving averages are well-oriented and supporting the bullish trend. However, prices have just begun a consolidation phase. It could be interesting follow the stock in the coming sessions.
The decline observed in the short term offers an interesting entry point for a mid-term investment. Investors will take advantage of the current area to buy Brown & Brown. The objective will be set at USD 27.6. The stop loss will be triggered below the USD 25.1 support.