Greene King plc : Benefit from the proximity of the support
Entry price | Target | Stop-loss | Potential |
---|
GBX 818.5 |
GBX 0 |
GBX 782 |
-100% |
---|
Greene King is back on its support area and this is a strategic entry point.
From a technical viewpoint, the trend is neutral in the short term. The security is trading between GBp 801 and GBp 890. The latest downtrend pushed the security upon contact with important levels (in the long and mid-term). These supports, respectively at GBp 800, could stop the bearish trend of these last days.
Investors can open longs positions within the GBp 800 area. In the first instance, the target price will be the 20-day moving average at GBp 837.4 and the the GBp 868 area (resistance and trendline). In case of breakdown of the GBp 801 support at the closing price, investors should close their positions.
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