RELX PLC : Technical rebound ahead
By Florian Girard
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 1,103 | GBX 0 | GBX 1,060 | -100% |
Financials forecasts are encouraging. Polled analysts’ EPS estimates were positively revised over the last 12 months. The current valuation shows a +5% potential to reach the consensus average target price. Moreover, some major investment banks and analysts recently rose their objectives on the sotck price.
Technically, the share is near a significant support at GBp 1080. The stock is currently in a oversold situation as the current low RSI shows. Furthermore, the rising lower trend line is very likely to limit the downside potential.
Consequently, investors can open a long position at current prices and legitimately expect a reversal toward the GBp 1188 resistance. A stop loss should be placed at GBp 1060.