Greencore Group plc : The share is well oriented
By Florian Girard
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 332.1 | GBX 360 | GBX 328.9 | +8.4% |
EPS estimates from Thomson Reuters’ consensus were upward revised over the last 12 months. Operating income is expected to increase by 12% after a 10% rise in 2014.
Both in weekly and daily data, moving averages are well oriented. The share recently touched the upper trend line. The security is in a bullish channel, which should lead the stock to breakout the GBp 338.6 resistance.
In the event of such a breakthrough, investors might take a long position and set as a first target the GBp 350/360 area. A stop loss should be set below the 20-day moving average once the trade is open.