PageGroup plc : A rally could take place
By Etienne Veber
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 395.2 | GBX 0 | GBX 377.8 | -100% |
EV/Sales is low with a ratio at 1.16x for this year.
Technically, in daily data, even if moving averages are still in a downtrend, a positive reaction in the GBp 379.4 area should stop this trend and allow a technical rebound towards GBp 433.7. Moreover, technical indicators show a significant oversold condition which strengthens this bullish scenario.
So as to make the most of a potential technical rebound of Michael Page International, it seems opportune to open a long trade at current prices. A confirmation of this pattern would enable the security to reach the GBp 433.7 short-term resistance, with a potential gain of around 10%.
Investors should not insist under GBp 379.4 and are better of placing a stop-loss order under this threshold.