Snyders-Lance : In oversold situation
Entry price | Target | Stop-loss | Potential |
---|
US$22.76 |
US$0 |
US$22.4 |
-100% |
---|
Snyder S Lance’s share price was heavily penalized and is now in an oversold situation near to a solid support area.
According to Thomson Reuters consensus, EPS revisions are stable since March after a sharp downward revision during February. Besides, business predictability is good as shown by the evolution of the turnover estimates for the next fiscal years. The company will publish the august 8th.
The share is oversold because it is near to USD 21.8. This situation gives credit to a potential technical rebound. Thus, the stock could find new energy and would rise towards the next USD 23.5 intermediate point.
The trading strategy can benefit from the proximity of the strong support currently tested in order to buy Snyder S Lance in a good timing. Investors might placed a stop loss order at USD 22.4 in order to avoid important losses.
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