Stantec Inc. : Breakout of an important resistance
By Camille Chretien
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$45 | $0 | $44.16 | -100% |
From a fundamental viewpoint, the group is in a good financial situation. Sales are expected to increase by 14.3% on the current year, with a net margin of 7.77%.
Since several months, the stock has initiated a sharp bullish trend mainly due to strong fundamentals. Prices have, recently, broken out the CAD 44.8 resistance, and are supported by increasing moving averages. Thus the security may reach CAD 47 in the coming trading sessions.
Investors could take a buying position at the current price. The first target price is CAD 47. A stop loss will be set below the CAD 44.8 area.