Dunelm Group plc : A steady bullish trend
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 845.5 | GBX 950 | GBX 839.54 | +12.36% |
Regarding the fundamentals, firstly, we note the increase of sales recorded over the previous year.
Graphically, the security is up 20% since the 1st January. It seems able to continue this uptrend supported by moving averages and will soon test the GBp 865.5 mid-term resistance. We anticipate a crossing of this level, given the upward orientation of the stock in the medium and long term. Above GBp 865.5, a buy signal will be given.
Therefore, investors will benefit from the signal given by the crossing of the GBp 865.5 resistance to take a long position in the stock. The objective will be set near GBp 950. Once the position is opened, a stop loss should be fixed under effective entry point to guard against a trend reversal.