Anite Ltd : A well-established uptrend
By Maxime Nonglaton
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 127 | GBX 0 | GBX 123.6 | -100% |
The GBp 132.3 resistance is in line of sight.
The company shows strong fundamentals. Firstly, the high valuation of the group shows a great investors confidence in it because there are ready to pay a high price for the stock. Moreover, the Thomson Reuters consensus revised upward EPS estimates for this year and that let see a great potential on for the security on the stock market.
Technically, the security is in an uptrend on all time scales and it is supported by 20-week moving average. Moreover, the support trend line gives credit to this strategy. The bullish trend will not be stopped until prices are above 100-day moving average. This trend should allow the stock to reach its GBp 132.3 long term resistance, which will be the first target price.
In consequence, investors can take a long position in Anite with a first target price at GBp 132.3. A new bullish fluctuation could lead the security toward its highest level in case of breakout of this resistance. A stop loss will be fixed under the 100-day moving average area.