easyJet plc : The bullish impetus is not depleted
Entry price | Target | Stop-loss | Potential |
---|
GBX 1,740 |
GBX 1,860 |
GBX 1,696 |
+6.9% |
---|
EasyJet could breakout the GBp 1743 resistance in the short term.
From a fundamental viewpoint, the group is in a good financial situation. Sales have increased by + 7.2% on the current year, with a net margin of 9.35%. Analysts widely revised upward in recent times their earnings per share estimates, which is a reliable indicator reflecting the company's health.
Technically, the stock is moving in an upward trend for many weeks. This movement reflects a buyer enthusiasm confirmed also by the well orientation of the moving averages. The security is going toward GBp 1743 and would give a strong buying signal if the crossing is confirmed in daily closing.
Therefore, investors could take a long position in EasyJet, on crossing of the GBp 1743 mid-term resistance to aim the GBp 1860 (swing effect). A stop loss should be placed at GBp 1696.
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