Babcock International Group PLC : Running out of steam as opportunity
Entry price | Target | Stop-loss | Potential |
---|
GBX 1,034 |
GBX 0 |
GBX 997.5 |
-100% |
---|
The uptrend may resume in the next trading sessions.
The group enjoys upward revisions in earnings per share and growth prospects. Indeed, the Thomson Reuters consensus expect sales to grow for the fiscal year at GBP 3.2 billion against GBP 3.07 billion for the previous year.
Babcock International is in an uptrend in the medium and long term, but the last bearish movement returns close to the GBp 1027 support corresponding at the same time to a bullish trend line and the 100-day moving average. All these elements argue in favor of a rebound towards the GBp 1071 short term resistance.
Hence, the GBp 1027 support could be a basis for a purchase to target GBp 1071 then GBp 1106. A stop loss will be fixed below the entry point to limit the risk.
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