Centamin plc : The bullish trend is not over
Entry price | Target | Stop-loss | Potential |
---|
GBX 103 |
GBX 120 |
GBX 98.9 |
+16.5% |
---|
Centamin, a mineral exploration development and mining company, has still an uptrend with an increase of 57% ytd.
The company shows strong fundamentals as exposed by Surperformance rating. Firstly, sales are expected at GBp 564 million for 2016, that is to say +10% compare to 2015. Moreover, the consensus revised upward EPS estimates for this year and that let see a great potential for the security on the stock market.
From a technical viewpoint, the security is trading in a bullish trend in the short and long-term. Increasing moving averages let think there will be no reversal in the coming trading sessions. This growth should help to reach soon the GBp 120 long term resistance.
For reasons above exposed, investors could benefit from the upward trend on Centamin by opening long trades above GBp 104. A first target could be set at the GBp 110 and a new bullish goal could be further reached near the GBp 120.3 resistance. The return under GBp 100 would invalidate the recovery scenario and trigger the stop-loss order.
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