Thomas Cook Group : Bearish signals
By Etienne Veber
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 121.6 | GBX 0 | GBX 126.8 | +100% |
Graphically, the stock went through a period of rebound in recent sessions towards the GBp 126.4 medium-term resistance. The share should consolidate near this area. It could act as a stopping point of the upward movement. This scenario suggests a return to the GBp 112.2 support area which will be a bearish objective once the 20-day moving average is broke-out.
Therefore, the most offensive investor can benefit from the technical configuration to open a short trade. The objective will be fixed near to the GBp 112.2 support. Only the breakdown of this level would open up new bearish targets toward GBp 100.9. The stop loss will be set above GBp 126.4.