Bodycote plc : A well-established uptrend
March 21, 2013 at 09:29 am
By
Entry price | Target | Stop-loss | Potential |
---|
GBX 549 |
GBX 600 |
GBX 539 |
+9.29% |
---|
Bodycote continues its bullish trend in order to test new highest level.
The company shows strong fundamentals. Firstly, the high valuation of the group shows a great investors confidence in it because there are ready to pay a high price for the stock. Moreover, the consensus revised upward EPS estimates for this year and that let see a great potential for the security on the stock market.
Technically, the security shows a bullish configuration on all time scales. Prices are supported by increasing moving averages. In weekly data, 20-day moving average supports the stock to keep its uptrend.
Thanks to these good indicators, it seems relevant to take a long position above the GBp 556.5 resistance. The target price is the GBp 600. A stop loss will be set below the GBp 540 level.
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