Ingredion Incorporated : The mid-term trend could accelerate in few sessions
By Camille Chretien
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$69.5 | $0 | $67.7 | -100% |
The group enjoys upward revisions in earnings per share and growth prospects. Indeed, the Thomson Reuters consensus expects sales to grow for the fiscal year by 6.5 billion dollars against 6.2 billion for the previous year.
Ingredion is in bullish trend in the medium and long term. However, prices are now in a consolidation phase and are back to the USD 68.8 support. The 100-day moving average, coming in support, should help the share to resume its bullish trend, in the coming trading sessions.
Investor can take a long position, at the current price, to take advantage of a new upward acceleration towards USD 74. A stop loss is placed under USD 68.8.