ITV plc : The bullish trend is not over
Entry price | Target | Stop-loss | Potential |
---|
GBX 175.7 |
GBX 0 |
GBX 169.7 |
-100% |
---|
The GBp 183.4 resistance is in line of sight.
The economic and financial situation of the company is still strong. Estimated sales from Thomson Reuters consensus are encouraging. Treasury is increasing rapidly and the leverage is reducing at -0.38. Moreover, expected sales and profit for 2013 and 2014 are regularly revised upward.
Technically, the security is in an uptrend next to a short term support of GBp 172.5. The bullish trend will not be stopped until prices are above the GBp 172.5 and the 50-day moving average should help the stock to be back in its annuals highs.
Investors could buy the stock at the current price with a target at GBp 183.4 and a stop loss below GBp 172.5.
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