Globaltrans Investment PLC : Anticipation of a bearish reversal
By Etienne Veber
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
US$3.9 | US$0 | US$4.12 | +100% |
Graphically, the share is in a period of technical rebound that allowed it to reach the USD 4 mid-term resistance. This area could trigger a sell signal for investors in case of profit-taking. Furthermore, the rallying of the USD 3.4 support area will be considered for upcoming sessions.
Due to the technical configuration and a bad fundamental situation that does not justify the current valuation of the group, investors can open a short position close to the USD 4 resistance. The price target is set at USD 3.7 and USD 3.4 with a stop-loss placed above USD 4.