British Land Company PLC : Continuation of the bullish trend
By Pierre Gilles de la Londe
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 760.5 | GBX 0 | GBX 749.9 | -100% |
The company’s fundamentals are still strong. Analysts from Thomson Reuters consensus have revised largely upward their EPS estimates.
Technical patterns are in the green: prices are up for several months. The movement should continue in the coming trading sessions. The 20-day moving average should help to reach the GBp 777 short term resistance. Indeed, we can expect a rebound on this moving average.
Thanks to these good indicators, it seems relevant to take a long position on British Land Company at the current price. The target price is the GBp 777 resistance. A stop loss will be set under the 20-day moving average at GBp 756 because a breakdown of this level would damage technical pattern.