Tate & Lyle plc : Back on its bullish trend?
Entry price | Target | Stop-loss | Potential |
---|
GBX 783 |
GBX 0 |
GBX 768.7 |
-100% |
---|
In the past few sessions, Tate & Lyle shares have suffered from a sharp fall and is now coming back to significant level support.
In the recent months, the earnings estimates for the next year are regularly revised upward by analysts.
With an EPS estimated at GBp 57.8 for this year and GBp 63.02 for the next year, Tate & Lyle is currently paid 13.6 and 12.5 times the results.
Tate & Lyle is oversold because and near to GBp 779.5. This situation gives credit to a potential technical rebound, strengthened by the lower limit of the bullish channel. Thus, the stock could find new energy and would rise towards the next GBp 807 resistance.
Thanks to the technical pattern and Tate & Lyle strong fundamentals, active investors can take a long position above GBp 779.5. The downside potential is limited and the timing seems perfect to benefit from a technical rebound.
The goals will be fixed at GBp 807 in a first time and then at GBp 819.5.
However, a bearish trend would regain the upper hand if the security crosses GBp 779.5.
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