J D Wetherspoon plc : To new upward targets
Entry price | Target | Stop-loss | Potential |
---|
GBX 748.52 |
GBX 824 |
GBX 748.22 |
+10.08% |
---|
J D Wetherspoon continues its bullish rally to test new highs.
Regarding the fundamentals, we note the increase of sales recorded over the previous year. Recently, the upward revisions of EPS gives an argument to buy the stock following the optimism of analysts.
Technically, prices continue to increase sharply for several month. On all time scales, the share is well-oriented and follow a bullish trend. The security is now moving toward the mid-term resistance located at GBp 767 and seems able to breakout soon. This crossing would provide a strong buy signal.
Therefore, investors will benefit from the signal given by the crossing of the GBp 767 resistance to take a long position in the stock. The objective will be set near GBp 824 (swing effect). Once the position is opened, a stop loss should be fixed under effective entry point to guard against a trend reversal.
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