Evoke plc : The 20-day moving average in support
Entry price | Target | Stop-loss | Potential |
---|
GBX 164 |
GBX 0 |
GBX 157.7 |
-100% |
---|
The 888 Holdings' stock is going towards new annual highs.
The company has strong fundamentals. The EPS estimates for 2013 have almost doubled this year, from USD 0.08 in january 2012 to USD 0.13 today. Moreover, the firm is expected to have USD 90.6 million in cash at the end of this year and USD 128 million next year.
Graphically, the security is in a bullish trend on all time scales. Prices, are near to the USD 158.8 pivot point, which is corresponding to the 20-day moving average. This configuration should help the stock to reach its USD 176.5 short term resistance.
Thanks to technical and fundamentals elements, its seems relevant to take a long position in 888 Holdings at the current price. The main objective will be the USD 176.5 resistance. Once this level crossed, the security could go towards new annual highs. A stop loss must be placed below USD 158.5.
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