ITV plc : The bullish trend is not over
By Etienne Veber
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 175.7 | GBX 0 | GBX 169.7 | -100% |
The economic and financial situation of the company is still strong. Estimated sales from Thomson Reuters consensus are encouraging. Treasury is increasing rapidly and the leverage is reducing at -0.38. Moreover, expected sales and profit for 2013 and 2014 are regularly revised upward.
Technically, the security is in an uptrend next to a short term support of GBp 172.5. The bullish trend will not be stopped until prices are above the GBp 172.5 and the 50-day moving average should help the stock to be back in its annuals highs.
Investors could buy the stock at the current price with a target at GBp 183.4 and a stop loss below GBp 172.5.