The support area of  £312.35  at the moment tested might facilitate a rally, at least technical. The fundamentals of the company could validate this scenario.

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.