Bodycote shows relatively strong fundamentals and is coming back to attractive prices.

Technically, in daily data, even if moving averages are still in a downtrend, a positive reaction in the GBp 643 area should stop this trend and allow a technical rebound towards GBp 711.5. Moreover, technical indicators show a significant oversold condition which strengthens this bullish scenario.

Therefore, the proximity of the GBp 643 support is an opportunity to open a long position in Bodycote. The first goal is a return in the GBp 711.5 resistance area, that is a potential of 7.2 %. In fact, the security has to cross this area in order to re-establish a bullish trend in the short term. A stop loss order can be placed under the support currently tested.