ITV plc : The bullish impetus is not depleted
By Sandra Pinturault
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 164.5 | GBX 185.46 | GBX 162.14 | +12.74% |
Regarding the fundamentals, we note the positive treasury of the group, sign of a healthy situation. Moreover, the consensus sharply revised upward EPS and revenue estimates for this year and that let see a great potential for the security on the stock market.
The security is in an upward trend for several months. A running out of steam is occurred with the contact of GBp 168.6 which is the highest recorded this year. This movement is supported by the 20-day moving average and may stop any bearish inclinations. Exceeding the GBp 168.6 resistance will indicate a buy signal with a target price in the area of GBp 185.5.
Therefore, investors could take a long position in ITV, on crossing the GBp 168.6 mid-term resistance. A stop loss should be placed bellow the 20-day moving average.