Tesco PLC : In oversold condition
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 319.6 | GBX 0 | GBX 308 | -100% |
Technically, in daily data, if the moving averages are still trending downward, the positive reaction of £312.35 should stop this trend and allow to aim that scenario of a technical rebound towards the £356.25. In addition, the technical indicators show an oversold condition which reinforces this upward prevision.
According to surperformance rating, the company shows an interesting fundamental situation in a trading strategy. It has a good compromise between its value and visibility.
The technical pattern and strong Tesco PLC 's fundamentals is a good opportunity for active investors to buy above of £312.4. The potential drop is limited and the timing seems ideal to benefit of technical rebound. The first target price is £356.3, and then to aim at £356.3. However, we shouldn't continue this strategy under £312.4, in fact the downwards trend could restart.