Petra Diamonds Limited : Strong financials support the rise
By Pierre Gilles de la Londe
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 190.2 | GBX 0 | GBX 179 | -100% |
Technically, prices has just breakout the pivot point at GBp 185,7 which could provides a rising acceleration. Moreover, an upward trend provide a good bullish condition and the stock has recently rebound on. The first target pricet will be the daily resistance at GBp 197. Nevertheless, investors who have a more risky profile could lighten their position at this level and could targeting the weekly resistance at GBp 211.
To conclude, both fundamental and technical arguments argue for the continuity of the bullish mid term trend. The first target will be the GBp 197 resistance and the next one will be GBp 211. A stop loss should be placed under the upward trend line at GBp 180.