SSE plc : In an oversold condition
Entry price | Target | Stop-loss | Potential |
---|
GBX 1,514 |
GBX 0 |
GBX 1,478 |
-100% |
---|
According to Surperformance© ratings, the company is an opportunity for a trading strategy. Indeed, it usually posts better-than-expected financial statements as in 2014 and the enterprise valuation (P/E ratio of 9.34x) conciliates with its visibility.
Technically, in daily data, even if moving averages are still in a downtrend, a positive reaction in the GBp 1498/1500 area should stop this trend and allow a technical rebound towards GBp 1577 at first. Moreover, technical indicators show a significant oversold condition which strengthens this bullish scenario. The upward trendline gives one more argument to buy the stock in the current area.
In consequence, the GBp 1500 offers an interesting entry point for a trading strategy. The first target will be the Gbp 1577 resistance and then the GBp 1625 pivot point. The stop-loss order will be fixed at GBp 1475.
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