Antero Resources Corporation : The USD 20.2 support area is currently tested
Entry price | Target | Stop-loss | Potential |
---|
$20.61 |
$0 |
$19.7 |
-100% |
---|
In the recent months, the earnings estimates for the next year are regularly revised upward by analysts.
With an EPS estimated at 2.55 USD for this year, Antero Resources is currently paid 8.1x the earnings.
Technically, in daily data, even if moving averages are still in a neutral trened, a positive reaction in the USD 20.2 area should stop this trend and allow a technical rebound towards USD 23.3. Moreover, the technical pattern show a triple bottom on the support, which give one more argument.
Thanks to the technical pattern and Antero Resources’ strong fundamentals, active investors can open a long trade above USD 20.2. The downside potential is limited and the timing seems perfect to benefit from a technical rebound.
The goals will be fixed at USD 23.3 and USD 26.2.
However, a bearish trend would regain the upper hand if the security crosses USD 20.2.
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