Sonoco Products Company : A reversal is anticipated
Entry price | Target | Stop-loss | Potential |
---|
US$44.3 |
US$0 |
US$43.4 |
-100% |
---|
Sonoco Products could regain its upward trend after having ran out of steam.
According to Surperformance ratings, the group has strong fundamentals, both in terms of business predictability and valuation. Based on current prices, the company is valued at 1.05 times its sales, offering an upward potential on the stock.
Sonoco Products shows a bullish configuration in the medium and long term. In weekly data, moving averages are well-oriented and in daily data, the USD 44 support gives credit to a technical rebound. In this case, the upward target will be set at USD 46, on the trendline.
Investors should closely monitor the security near USD 44.06, to take advantage of renewed upward movement in the direction of USD 46. A stop loss will be placed at USD 43.4.
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