An upward movement could happens on Petra Diamonds.

Fundamentals show great growth potential on Petra Diamonds Limited joined to a sound financial situation. Sales forecasts are encouraging as suggested by the Thomson-Reuters consensus.

From a technical viewpoint, shares are currently in contact with the short term support at GBp 182.5. This support could allow the stock to reach the GBp 196.4 resistance in few sessions. Moreover, prices are supported by the 20-week moving average which act as a support.

To conclude, active investors can open a long position on Petra Diamonds in order to target the next resistance at GBp 196.4 and then GBp 208.8. A stop loss should be placed under the GBp 182.5 support.