EnQuest PLC : Back to the 20-day moving average
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 129.3 | GBX 131.5 | GBX 123.4 | +1.7% |
Graphically, once the GBp 131.5 was hit, upside on the bullish consensus was depleted. A pull back on the 20-day moving average could give a new impetus to the stock for a return towards the GBp 131.5 resistance.
Thanks to this configuration, it seems relevant to take a long position near GBp 126. The target price is the GBp 131.5 resistance. A stop loss will be fixed under the GBp 123.9 short term because a breakdown of this level would damage technical pattern.