COBHAM : In an oversold situation
Entry price | Target | Stop-loss | Potential |
---|
GBX 213.1 |
GBX 0 |
GBX 207.4 |
-100% |
---|
The GBp 211.6 support, currently tested, should allow Cobham to rally again.
Technically, the security is in a negative configuration in the short term as the bearish trend of 20-day moving average, currently at GBp 233.4, shows. Nevertheless, the stock seems being oversold, near to its GBp 211.6 support in daily data. This level might stop the short term slumping and should help for a return near the GBp 230/237 area.
Thanks to the technical pattern and Cobham’s strong fundamentals, active investors can open a long trade above GBp 211.6. The downside potential is limited and the timing seems perfect to benefit from a technical rebound. The goals will be fixed at GBp 237 in a first time. However, a bearish trend would regain the upper hand if the security crosses GBp 211.6.
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