Mondi plc : Continuation of the bullish trend
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 874.5 | GBX 0 | GBX 790.5 | -100% |
The company shows strong fundamentals. Firstly, the security is undervalued compared to its peers with an EV/Sales ratio estimated at 0.95 by the Thomson Reuters consensus for this year. Moreover, the consensus revised upward EPS estimates for this year and that let see a great potential for the security on the stock market.
Technical patterns are in the green: prices are up for several months. The bullish impetus should continue in the coming trading sessions. The 20-day moving average should help to reach the GBp 1003.5 mid-term resistance.
Thanks to these good indicators, it seems relevant to take a long position in Mondi at the current price. The target price is the GBp 1003.5 resistance. A stop loss will be set under the GBp 807.25 short term support because a breakdown of this level would damage technical pattern.