Signet Jewelers Limited : A long-term support currently tested
Entry price | Target | Stop-loss | Potential |
---|
US$99.58 |
US$0 |
US$93.9 |
-100% |
---|
Signet Jewelers shows relatively strong fundamentals and is coming back to attractive prices.
From a fundamental viewpoint, the security is cheap with a P/E Ratio of 12x for 2017 and 10.2x for 2018.
Besides, EV/Sales is low with a ratio at 1.33x for this year.
The technical situation of the stock gives credit to a potential technical rebound thanks to the important support level area (Short, mid and long term). Thus, the stock could find new energy and would rise towards the next USD 109.4 resistance in daily data.
Considering technical and fundamental elements, it seems to be an appropriate timing to open a long trade in Signet Jewelers in order to benefit from the support area.
A first target price will be the USD 109.4 resistance, ie a potential of 10%. A stop-loss order will be placed under the mid-term support currently tested (at USD 93.9).
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