Pendragon comes back upon contact with important technical level that might give impetus to a rebound.

In terms of valuation, the enterprise value represent 0.13 times its sales. It is an attractive valuation for this stock.

The area of the GBp 33.2 support should enable the stock to have a new bullish trend. The long term support in this area confirms its relevance. Technically, above these levels, 4-traders analysts are optimistic and count on a return toward the short-term resistance.

As a result, active investors can open immediately a long trade in Pendragon thanks to the close proximity of the breakout of the GBP 37.5. The target price is GBp 41.5 and in case of breakout of this level, the second target price would be GBp 49. If there is a breakdown of the moving averages at GBp 37, investors should close their positions.