Marks & Spencer Group plc : Bullish trend
December 03, 2012 at 02:16 pm IST
By
Entry price | Target | Stop-loss | Potential |
---|
GBX 390.6 |
GBX 438 |
GBX 386.74 |
+12.14% |
---|
Marks and Spencer Group continues its bullish rally to test new highs.
Regarding the fundamentals, we note the increase of sales recorded over the previous year.
The security is in an upward trend for several months. A running out of steam is occurred with the contact of GBp 398.7 which is the highest recorded by this share. This movement is supported by the 20-day moving average and may stop any bearish sign. Exceeding the GBp 398.7 resistance will indicate a buy signal with a target price in the area of GBp 438.
Investors could take a buy position once prices will be above the resistance. A stop loss will be positioned under GBp 385.2.
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