Tesco PLC : An appropriate purchase level
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 329.95 | GBX 0 | GBX 314 | -100% |
According to Surperformance rating, the company is an opportunity for a trading strategy. Indeed, it is a good compromise between its value and its visibility.
Technically, in daily data, even if moving averages are still in a downtrend, a positive reaction in the GBp 326 area should stop this trend and allow a technical rebound towards Gbp 350. Moreover, technical indicators show a significant oversold condition which strengthens this bullish scenario.
Considering technical and fundamental elements, it seems to be an appropriate timing to immediately take a long position in Tesco in order to benefit from the GBp 326 support area. A first target price will be the GBp 350 resistance. A stop loss order will be placed under the mid-term support currently tested.