Royal Boskalis Westminster N.V. : Breakout to buy the stock
By Etienne Veber
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
€37.25 | €0 | €34.3 | -100% |
The company’s fundamentals are favorable. Sales should raise by 10.5% for one year and moreover, analysts from Thomson Reuters consensus have revised largely upward their EPS estimates for the current year.
Technical patterns are positive on different time scale: prices are up for several months. The movement should continue in the coming trading sessions thanks to the breakout of the annual highs. The 20-day moving average should help to reach the EUR 39.5 short term resistance (swing effect).
Thanks to these good indicators, it seems relevant to take a long position in Boskalis at the current price. The target price is the EUR 39.5 resistance. A stop loss will be set under the EUR 34.5 short term support because a breakdown of this level would damage technical pattern.