Legal & General Plc : Continuation of the bullish trend
By Florian Girard
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 285.5 | GBX 0 | GBX 273 | -100% |
The company’s fundamentals are strong. Net income is expected to grow by 13% after a 10% increase. Analysts from Thomson Reuters’ consensus have revised upward their EPS estimates. Stock’s yield is over 3% and P/E ratio is relatively low.
Technically, the security is trading in a bullish trend in the short and the long term. Increasing moving averages support this tendency. Moreover, the share has done a consolidation near the GBp 270.30 pivot point. It should give the security a new momentum to keep evolving in unknown prices area. Therefore, investors can take a long position in Legal & General. A first target price could be the GBp 314 technical threshold. A stop loss will be set under the GBp 277.7 short term support.