Persimmon Plc : Expect a rebound
By Florian Girard
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 1,656 | GBX 0 | GBX 1,595 | -100% |
Fundamentals are good. All financials indicators are positive. Sales are expected to increase by 10% while EBITDA should rise about 19 %. Moreover the stock offers a good yield, around 6%. The security has not reached the consensus average target price yet.
The share is currently near the GBp 1650 pivot point that previously acted as a support and is at the same time close from its 20-weeks moving average. Moreover the 100-days moving average should prevent the stock from a big downfall. In this configuration, investors can legitimately expect a rebound and target the GBp 1778 short term resistance. A stop loss should protect the position at GBp 1595.