Centrica plc : GBp 351 support as argument
By Etienne Veber
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 353.66 | GBX 0 | GBX 346 | -100% |
Technically, the security fell sharply for several weeks. This fall has lead Centrica on the GBp 351.4 support area which could become useful as a stepping stone for a technical rebound. The target of this bullish trend is the GBp 370 resistance. Even though moving averages are still in a bearish trend, the oversold situation could encourage a renewed interest in Centrica.
Therefore, the proximity of the GBp 351.4 support is an opportunity to take a long position in Centrica. The first goal is the GBp 370 resistance area. In fact, the security has to cross this area in order to re-establish a bullish trend in the mid term. A stop loss order can be placed under the support currently tested.