British Land Company PLC : Bet on trading range
By Oscar Salza
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 511.5 | GBX 0 | GBX 515 | +100% |
Financial elements show some weak points. Full year 2013 and 2014 earnings per share are revised regularly downward by Thomson Reuters’ analysts, respectively to £0.3 and £0.5
The share at current price is trading 17 times earnings per share, this valuation is higher than its sector and its country.
Technically the share is in a bullish trend in the short-term, which had thrown the security towards mid-term resistance of GBp 513, establishing a double top on this level, which was tested in March.
In the mid-term, the share is trading in a neutral range between GBp 513 / 467, for this reason we forecast a return towards lower band of this range.
We fix as first bearish target GBp 480 and then GBp 465. A stop loss will be placed at GBp 515.