RELX PLC : Back to a significant threshold
By Florian Girard
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 1,061 | GBX 0 | GBX 1,030 | -100% |
The company enjoys an excellent Surperforamnce rating that underline its profitability, its earnings quality and its positive EPS revisions. The Thomson reuters consensus set an average target price which displays a +9% potential. Revenues and operating margin growth rates add relevance to this investment.
Technically, the security is in a consolidation area limited by the significant 1042 GBp support and the GBp 1188 resistance. Above the lower limit, investors could aim a rebound toward the GBp 1124 pivot point area. The present prices area find the support of the GBp 1059 threshold, the rising trend line and 100- week moving average.
Consequently, investors may open a long trade at current prices and target a reversal toward the GBp 1124 pivot point. This strategy should be covered by a stop loss placed under the GBp 1042 support because a breakdown of this level would invalidate it.