Bunzl plc : A trading opportunity
By Etienne Veber
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 1,848 | GBX 0 | GBX 1,786 | -100% |
The fundamentals of the company are good and the firm has an important growth potential in term of revenues.
Following a bullish wave, the stock now shows a slight decline that led it toward its GBp 1829 short support. These level correspond to the lower band of a trading range. At this level, a re-boost of buyers would enable an upturn in the medium and long term.
Consequently, we expect a rebound toward the GBp 1950, the second resistance in daily data. A stop-loss order will be placed above the GBp 1792 support.