Hammerson plc : Benefit from the bullish trend
By Anas Boumedian
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 624.5 | GBX 0 | GBX 599.5 | -100% |
The company’s fundamentals are still strong. Sales are expected to be up +16% for this year. Analysts from Thomson Reuters consensus have revised largely upward their EPS estimates. The last EPS was at 47.4 pence and is expected at 88.5 in 2015.
Technically, the security shows a bullish configuration on all time scales. The stock has recently crossed its 615.5 pivot point. Prices are supported by increasing moving averages. In weekly data, 20-week moving average helps the stock to keep its uptrend.
In consequence, investors can take a long position on Hammerson security to take advantage of the bullish trend, with a target price on the weekly GBp 665 resistance. A stop loss will be set under the short term support at GBp 606.5.