Bodycote plc : Close to a key point
By Etienne Veber
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 508 | GBX 0 | GBX 490 | -100% |
In the short term, the bearish trend has known a weakening close to the GBp 499 mid-term support after the brexit vote. A new bullish trend is forming toward the 20-day moving average at GBp 560/570.
Ideally, investors will take a long position nearby the GBp 499 big support currently tested, in order to benefit from a technical rebound. The GBp 557 is the first goal. This strategy should be covered by a stop loss placed under the support because a breakdown of this level would invalidate the upward strategy.