Babcock International Group PLC : Sellers pressure likely to dominate
Entry price | Target | Stop-loss | Potential |
---|
GBX 1,130 |
GBX 0 |
GBX 1,181 |
+100% |
---|
The upward trend seems to be running out of steam. The downward trend could recover near the current level.
From a technical viewpoint, the proximity of the GBp 1144 medium-term resistance limits the upside potential on the stock. The uptrend in the short term could be stopped by this level and prices could decrease sharply in the coming sessions. Technical indicators also show an overbought situation that reinforces this bearish scenario. Thus, there is a higher downside potential than upside.
Therefore, the most offensive investors can benefit from the technical configuration to take a short position. The objective will be fixed near to the GBp 990. The stop loss will be set at GBp 1181.
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