Brown-Forman Corporation : An opportune reversal
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$63.72 | $67.15 | $60.3 | +5.38% |
According to Surperformance ratings, the group has strong fundamentals, both in terms of business predictability and margins. In addition, analysts have recently revised upward their earnings estimates and now expect a profit of USD 2.66 per share for the current year.
Technically, the uptrend in the medium and long term should protect the stock of a major downtrend. In the short term, a decline could lead the share to the USD 61.04 support. Therefore, a technical rebound will fix an objective near the USD 67.15 short-term resistance.
A decline seems possible on the USD 61.05 area. It could be a basis for a purchase to target USD 67.15. A stop loss will be fixed below the entry point to limit the risk.