Vistry Group PLC : Continuation of the uptrend
By Camille Chretien
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 763 | GBX 779 | GBX 715 | +2.1% |
The fundamental qualities of the group are clearly attractive as evidenced by the upward revisions of earnings per share and revenue estimations. The profitability of the company's business remains good. The high levels of valuation show the interest of investors for this security.
Technically, the stock is moving in an upward trend for many weeks. This movement reflects a buyer enthusiasm confirmed also by the well orientation of the moving averages. However, prices are know slightly decreasing and should come back to the GBp 730 short term support before bouncing towards the GBp 779 resistance helped by the 50-day moving average.
Therefore, investors will benefit from a comeback to GBp 730 to take a long position in the stock. The objective will be set at GBp 779. Once the position is opened, a stop loss should be fixed under GBp 730.