Greene King plc : Running out of steam as opportunity
By Maxime Nonglaton
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 558 | GBX 0 | GBX 519 | -100% |
According to Surperformance ratings, the group has strong fundamentals, both in terms of business predictability and valuation. In addition, analysts have recently revised upward their earnings estimates and now expect a profit of GBP 56.24 per share for the current year.
Greene King is in bullish trend in the medium and long term. In weekly data, moving averages are well-oriented. In the short term, a decline could lead the share to the GBp 525 support. Therefore, a technical rebound will fix an objective close to the GBp 579 short-term resistance. It could be interesting in the coming sessions.
Consequently, we expect a decline toward GBp 525. The most active investors can buy the share in this area and target a return toward GBp 579. A stop loss can be placed under the GBp 525 support.