Centamin plc : Perfect timing for a technical rebound
Entry price | Target | Stop-loss | Potential |
---|
GBX 58.22 |
GBX 0 |
GBX 54.8 |
-100% |
---|
Centamin’s share price was heavily penalized and is now in an oversold situation near to a solid support area.
Financial of the company are good : upward revisions of EPS and sales and growth perspective concerning sales. P/E ratio is low at 7.8x showing a low valuation compare to the competitors.
The security follows a downward trend in the short term, under the GBp 66.25 resistance area. In the mid-term, the trend is neutral and in the short-term it's starting a technical rebound on the GBp 57. Centamin is not likely to continue its downtrend because it is near to the strong GBp 57 and it is oversold.
Considering technical and fundamental elements, it seems to be an appropriate timing to take immediately a long position in Centamin in order to benefit from the GBp 56.9 support area. A first target price will be the GBp 66.25 resistance. A stop loss order will be placed under the short-term support currently tested. Only a crossing of GBp 66.25 would validate a bullish trend in order to aim a higher target price.
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