Leggett & Platt, Incorporated : The bullish trend is not over
Entry price | Target | Stop-loss | Potential |
---|
$27.85 |
$0 |
$24.89 |
-100% |
---|
Leggett & Platt, the diversified manufacturer, has still an uptrend and is going toward its highest level.
From a fundamental viewpoint, the company is strong. The Thomson Reuters consensus revised regularly upward EPS estimates of the company for the current year. The great business predictability emphasize the quality of this investment in the mid-term.
Technically, the security shows a bullish configuration on all time scales. Prices are supported by increasing moving averages. In daily data, 20-day moving average helps the stock to keep its uptrend.
According to both technical and fundamental elements, it seems opportune to take a long position at the current price. The bullish trend should allow the security to reach the USD 29.1 resistance. If the stock crosses it, a new target price will be set. A stop loss will be placed under the USD 26.6 short term support to avoid a downtrend.
The content herein constitutes a general investment recommendation, prepared in accordance with provisions aimed at preventing market abuse by Surperformance, the publisher of MarketScreener.com. More specifically, this recommendation is based on factual elements and expresses a sincere, complete, and balanced opinion. It relies on internal or external data, considered reliable as of the date of their release. Nevertheless, this information, and the resulting recommendation, may contain inaccuracies, errors, or omissions, for which Surperformance cannot be held responsible. This recommendation, which in no way constitutes investment advice, may not be suitable for all investor profiles. The reader acknowledges and accepts that any investment in a financial instrument involves risks, for which they assume full responsibility, without recourse against Surperformance. Surperformance commits to disclosing any conflict of interest that may affect the objectivity of its recommendations.