Campbell Soup Company : Technical rebound is forming
Entry price | Target | Stop-loss | Potential |
---|
$31.91 |
$33 |
$30.9 |
+3.42% |
---|
The support of 31.44 USD is being tested which should allow Campbell Soup Company to meet again the bullish trend.
On a fundamental point of view, at current prices, the share seems correctly valued in terms of enterprise value.
Technically, for several trading sessions Campbell Soup Company's share heavily fell . This prices' disrepair has led the share towards the USD 31.4, area that could come in useful as stepping stone for important technical rebound. The target of this bullish configuration is placed at first important resistance of USD 33. While moving averages are still in a downward trend but indicators could encouraging a renewed interest in the share.
The stock could quickly rise, with a combination of technical and fundamental factors. The most active investors could take a buy position with a first target price of USD 33. The crossing of this target will open to a new target fixed at USD 34.4. The stop loss under USD 31.4 is necessary for hedging the risk.
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