Sky : Arguments for a technical rebound
By Etienne Veber
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 792 | GBX 0 | GBX 748.75 | -100% |
British Sky Broadcasting is oversold near the GBp 764.5. This situation gives credit to a potential technical rebound. Thus, the stock could find new energy and would rise towards the next GBp 860 resistance.
Considering technical elements, it seems to be an appropriate timing to take a long position in British Sky Broadcasting group in order to benefit from the GBp 764.5 support area. A first target price will be the GBp 860 resistance, with a potential of 8.5%. A stop loss order will be placed under the mid-term support at GBp 764.5. Only a crossing of GBp 860 would validate a bullish trend in order to aim a higher target price.