Entain plc : Benefit from the uptrend
By Sébastien Gatel
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 542.5 | GBX 564 | GBX 532.5 | +3.96% |
The economic and financial situation of the company is still strong. Estimated sales from Thomson Reuters consensus are encouraging at more than EUR 825 million. Its EPS is expected at EUR 1.1 for 2016 vs EUR 0.38 for the last fiscal year.
Technically, the security is in an uptrend on all time scales and it is supported by its 20-day moving average. The bullish trend will not be stopped until prices are above the GBp 517 short term support. This trend should allow the stock to reach its GBp 564 long term resistance, which will be the main target price.
For reasons above exposed, investors could benefit from the upward trend on GVC Holdings by opening long trades. A first target could be set at the GBp 564 and new bullish goal could be further reached. The return under GBp 532.5 would invalidate the recovery scenario and trigger the stop-loss order.