Bunzl could exceed the symbolic threshold of GBp 1630 and resume its bullish trend.
The groups states strong fundamentals and qualitative Surperformance ratings. Sales are growing, and so are margins. Revenues have increased of 14% this year while net margin has improved of 42% since 2011. Moreover, financials are sound, leverage has been largely reduced and analysts estimates show that it should continue to decrease in the coming years.
Technically, the stock is evolving in the same price area since early February and is now testing its GBp 1630 resistance. If the stock break this level out on closing price, this will signal that the bullish trend is resuming as well oriented moving averages suggest.
Given these elements, most active investors could take a buying position when crossing the GBp 1630 resistance to benefit from a renewed bullish trend. The target will be GBp 1702 (calculated by swing effect). A stop loss will be placed below the GBp 1558 short term support, threshold that would invalidate the bullish overflow.
Bunzl plc specializes in the distribution of hygiene and safety packages, products, and materials. The group also offers packaging products, restaurant items (cutlery, glassware, kitchen utensils, etc.), cleaning products (soaps, detergents, toilet paper, custodial products, polishes, washing machines, etc.), and personal protection equipment (gloves, masks, clothing, etc.).
Net sales break down by sector into food services (29.8%), grocery stores (26.1%), safety (14.8%), retail (9.6%), hygiene and cleaning (9.3%), healthcare (7%), and other (3.4%).
Net sales are distributed geographically as follows: the United Kingdom and Ireland (12%), Continental Europe (18%), North America (61.2%) and other (8.8%).
BUNZL PLC 
