Tribal Group plc : Perfect timing to aim a technical rebound
By Bastien Chabasseuil
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 171.75 | GBX 0 | GBX 162.5 | -100% |
Currently the stock is oversold and, in the mid-term, is trading in a bearish trend. In the short term, this trend is reversed upon contact with the GBp 165 area. Tribal Group should be able to confirm its increase in the next trading sessions. This support is a trading opportunity in order to anticipate a technical rebound towards GBp 180.5 and by extension towards GBp 206.5.
Thanks to the technical pattern and the strong fundamentals of Tribal Group, active investors can take a long position above GBp 165. The downside potential is limited and the timing seems perfect to benefit from a technical rebound.
The goals will be fixed at GBp 180.5 in a first time and then at GBp 206.5.
However, a bearish trend would regain the upper hand if the security crosses GBp 165.