RS Group plc : A likely bearish scenario
Entry price | Target | Stop-loss | Potential |
---|
GBX 222.8 |
GBX 0 |
GBX 231 |
+100% |
---|
The upward trend seems to be running out of steam. The downward trend could recover.
EPS are expected to decrease in the two upcoming fiscal years. Moreover, the stock price is 9.1% higher than the average target price set by analysts covering it.
Shares remain rooted in a bearish trend. Since latter peaks, the technical rebound seems to have run out of steam close to the GBp 225.3 resistance. This threshold is likely to push back prices towards the GBp 212.2.
Therefore, investors can open a short position close to the GBp 225.3 resistance. The price target is set at GBp 212.2 and a stop loss will be placed above GBp 225.3.
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