Lear Corporation : Signal above USD 73.8
Entry price | Target | Stop-loss | Potential |
---|
$72.21 |
$82 |
$71.4 |
+13.56% |
---|
Lear Corporation is trading in a bullish trend and several arguments are in favor of the continuation of this trend.
The company shows strong fundamentals. Firstly, the security is undervalued compared to its peers with an EV/Sales ratio estimated at 0.37 by the Thomson Reuters analysts for this year. Moreover, the consensus revised upward EPS estimates for this year and that let see a great potential for the security on the stock market.
Technically, the security shows a bullish configuration on all time scales. Prices are supported by increasing moving averages. In daily data, 20 and 50-day moving average helps the stock to keep its uptrend.
Thanks to these good indicators, it seems relevant to take a long position in Lear Corporation above the USD 73.8 resistance. The target price is the USD 82, corresponding to the bullish trend line. A stop loss will be set under the entry point because a breakdown of this level would damage technical pattern.
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