TAL Education Group : Pullback on a bullish trend line
Entry price | Target | Stop-loss | Potential |
---|
US$12.5 |
US$13 |
US$11.8 |
+4% |
---|
TAL Education Group has still an uptrend and is going toward its highest level.
From a fundamental viewpoint, the company is strong. The Thomson Reuters consensus revised regularly upward EPS estimates of the company for the current year.
Technically, the security is in an uptrend on all time scales and it is supported by moving averages. Prices were evolving within a bullish trading channel. The stock has recently broken out the upper limit of the latter which argue in favor of an upward acceleration. Nonetheless, it would be preferable to wait for a pullback on the trend line, corresponding to the 20-day moving average, to take a long position.
Thanks to these good indicators, it seems relevant to take a long position in TAL Education Group around USD 12.2. The target price is the USD 13 resistance. A stop loss will be set under the 20-day moving average, currently around USD 12.
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