Hunting PLC : In oversold situation
October 31, 2012 at 09:01 am
By
Entry price | Target | Stop-loss | Potential |
---|
GBX 754 |
GBX 0 |
GBX 721 |
-100% |
---|
The GBp 743 support, currently tested, should allow Hunting share price to rally again.
According to Surperformance rating, the company is an opportunity for a trading strategy. Moreover, brokers have lately revised upward their revenue estimates and count on EPS of GBp 0.43 for this year.
After several weeks of fall, technical indicators illustrate the oversold situation. The GBp 743 area could cause a positive reaction for the coming trading sessions and allow a technical rebound towards the GBp 810 mid-term resistance and then the long-term target price is GBp 904.
Therefore, the proximity of the GBp 743 support is an opportunity to take a long position in Hunting company. The first goal is a return in the GBp 810 resistance area, with a stop loss order placed under the support currently tested.
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