Manhattan Associates, Inc. : Perfect timing to aim a technical rebound
By Sébastien Gatel
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
US$47.72 | US$58 | US$44 | +21.54% |
Moving averages are flat and technical indicators illustrate the oversold situation. The USD 45.82 area could cause a positive reaction for the coming trading sessions and allow a technical rebound towards the USD 58 mid-term resistance.
Considering technical and fundamental elements, it seems to be an appropriate timing to immediately open a long position in Manhattan Associates in order to benefit from the USD 45.82 support area. A first target price will be the USD 58 resistance, that is to say a potential of 21.7%. A stop loss order will be placed under the mid-term support currently tested. Only a crossing of USD 58 would validate a bullish trend in order to aim a higher target price.