FirstGroup plc : Benefit from the proximity of the support
Entry price | Target | Stop-loss | Potential |
---|
GBX 106.8 |
GBX 0 |
GBX 103.8 |
-100% |
---|
FirstGroup shares might rebound on the significant threshold currently tested.
From a fundamental viewpoint, Surperformance ratings underlines the advantageous valuation and profitability levels of the company. Analysts are optimistic on the stock and target GBp 136 on average.
Technically, the security is in a consolidation area limited by the significant GBp 106.4 support. Above the lower limit, investors could aim a rebound toward the GBp 133 resistance area and the trendline around GBp 118 by extension.
As a result, active investors can take immediately a long position in FirstGroup thanks to the close proximity of the GBp 106.4 support area. The target price is GBp 113 and in case of breakout of this level, the second target price would be the GBp 117.7. If there is a breakdown of the GBp 106.4 support, investors should close their positions.
The content herein constitutes a general investment recommendation, prepared in accordance with provisions aimed at preventing market abuse by Surperformance, the publisher of MarketScreener.com. More specifically, this recommendation is based on factual elements and expresses a sincere, complete, and balanced opinion. It relies on internal or external data, considered reliable as of the date of their release. Nevertheless, this information, and the resulting recommendation, may contain inaccuracies, errors, or omissions, for which Surperformance cannot be held responsible. This recommendation, which in no way constitutes investment advice, may not be suitable for all investor profiles. The reader acknowledges and accepts that any investment in a financial instrument involves risks, for which they assume full responsibility, without recourse against Surperformance. Surperformance commits to disclosing any conflict of interest that may affect the objectivity of its recommendations.