Petra Diamonds has recently known a little decrease in its upward movement which could represent a good opportunity.

Fundamentals show great growth potential on Petra Diamonds joined to a sound financial situation. Sales forecasts are encouraging as suggested by the Thomson-Reuters consensus. Moreover, net incomes are expected to grow by 132% between this year and 2015.

Graphically, the stock is in a upward movement in the short term. However, prices have known a little decrease some days ago, and it could provide a good opportunity to getting long on Petra Diamonds. The first objective will be set at GBp 208.8 and the second one at GBp 216.6. This scenario is supported by the crossing of 50 and 100-day moving averages by the 20-day one.

To conclude, active investors can take an immediate long position on Petra Diamonds in order to reach the GBp 208.8 area and the GBp 216.6 mid-term resistance. In case of futher decrease, investors should close their positions below the GBp 196.4 pivot point.