Genel Energy plc : A rebound in sight
Entry price | Target | Stop-loss | Potential |
---|
GBX 622 |
GBX 0 |
GBX 591 |
-100% |
---|
The GBp 608.5 support area, currently tested, might facilitate a technical rebound. The company’s fundamentals could validate this scenario.
The security is likely to benefit from the recent recovery of oil prices. Moreover, analysts covering the stock keep mainly a buyer bias and target a 44% appreciation potential on average.
Technically, the security is in a negative configuration in the short term. Nevertheless, the stock seems being oversold, near to its GBp 608.5 support in daily data. This level might stop the short term slumping and allow a technical rebound.
Therefore, it seems opportune to open a long position on the stock to target GBp 660. A stop loss order can be placed under the support currently tested.
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