|Contributor / Partner
Strategy published on : 02/23/2021 | 06:49
long tradeStop-loss triggered
Entry price : 52.63AUD
Target : 56.21AUD
Stop-loss : 52.1AUD
Potential : 6.8%
Wesfarmers Limited shares show a positive technical situation which suggests a continuation of the upward dynamic over the medium term.
Investors have an opportunity to buy the stock and target the AUD 56.21.
● The company has strong fundamentals. More than 70% of listed companies have a lower mix of growth, profitability, debt and visibility criteria.
● The company has solid fundamentals for a short-term investment strategy.
● Predictions on business development from analysts polled by Standard & Poor's are tight. This results from either a good visibility into core activities or accurate earnings releases.
● Analysts have consistently raised their revenue expectations for the company, which provides good prospects for the current and next years in terms of revenue growth.
● Over the past year, analysts have regularly revised upwards their sales forecast for the company.
● Over the last seven days, analysts have been revising upwards their EPS estimates for the company.
● For the last few months, EPS revisions have remained quite promising. Analysts now anticipate higher profitability levels than before.
● Within the weekly time frame the stock shows a bullish technical configuration above the support level at 42.37 AUD
● The share is close to its long-term resistance in weekly data. Therefore, the potential should be limited. However, a further bullish movement when crossing this resistance will be a positive signal.