Lear Corporation : Still a great upward potential
Entry price | Target | Stop-loss | Potential |
---|
US$70.19 |
US$0 |
US$69.3 |
-100% |
---|
Lear Corporation is trading in a bullish trend and several arguments are in favor of the continuation of this trend.
The economic and financial situation of the company is still strong. For past years, the group had a positive treasury but for next year, it would have a low level of debt. Moreover, the consensus sharply revised upward EPS and revenue estimates for this year and that let see a great potential for the security on the stock market.
Technically, the security is in an uptrend on all time scales and it is supported by moving averages. The bullish trend will not be stopped until prices are above the 20-day moving average. This trend should allow the stock to reach its USD 73 mid term resistance, which will be the first target price.
In consequence, investors can take a long position in Lear Corporation with a first target price at USD 73. A new bullish fluctuation could lead the security toward its highest level in case of breakout of this resistance. A stop loss will be set under the 20-day moving average.
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