Workspace Group Plc : Watch for the breakout
By Florian Girard
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 965.65 | GBX 0 | GBX 959 | -100% |
The firm enjoys a good Surperformance rating which underline its profitability, its earnings quality and the optimism of analysts regarding EPS. The consensus is mainly buyer on the stock with an average target price 5% above the current price.
Graphically, the share is in an upward trend on all time scales and is evolving within a bullish channel. All moving average remain well oriented, especially the 20-week one which support the price momentum. Presently, in the GBp 964 resistance area the share could breakout the GBp 980 threshold, thus giving a strong buying signal.
Consequently, investors may open along position above this latter resistance and target the GBp 1030 as a first goal and by extension the upper trend line. A stop loss order will be set at GBp 959, in the event of a failure of the breakout.