In the past few sessions, Sports Direct International shares have suffered from a sharp fall and is now coming back to significant level support.

According to Surperformance© ratings, the company is an opportunity for a trading strategy due to its growth perspective, the financial situation and the profitability.

The security follows a downward trend in the short term, under the GBp 650.5 resistance area.
The trend is bearish also in the mid-term, under GBp 650.5. However, the selling pressure could soon run out of steam. Indeed, whereas the stock shows an oversold condition, the GBp 561 support area currently tested might stop the bearish trend in the short term.

Considering technical and fundamental elements, it seems to be an appropriate timing to immediately open a long trade in Sports Direct International in order to benefit from the GBp 561 support area. A first target price will be the GBp 650.5 resistance, ie a potential of 15%. A stop loss order will be placed under the mid-term support currently tested.