Halfords Group is close to an area that might stop the downward trend.

From a fundamental viewpoint, the company shows positive information with an estimated PER of 14.5x for the current year. Furthermore, the EV/Sales ratio is 0.98x and it confirms the low valuation. Revenues and operating margin growth rates add relevance to this investment.

Technically, the security is going back to a significant support area both in daily and weekly data(GBp 427/430). This area should stop the recent downward movement. Indeed, already tested many times, this weekly support has helped the stock to stay in a neutral trend in the long term.

As a result, active investors can take a long position in Halfords Group close to the GBp 430 support area. The target price is GBp 465/470. If there is a breakdown of the GBp 427.2 support, investors should close their positions.