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Home / Support and Resistance / Provident Financial (PFG.L) 31-10-19

This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.

Provident Financial (PFG.L) 31-10-19

Will Provident Financial (PFG.L) fall beyond the 390p support level, or will we see a retest of 550p? (+23%)

 

  • The stock is near support at 390p, now trading at 446.2p (at time of writing).
  • Whilst the past does not always repeat itself, the support level has held up well.
  • From here, will buying pressure return to drive the price back to 550p? (+23%).
  • As always, be aware of news and events that can change the market’s perception of value – this can lead to key levels being broken.
  • Shares -32% from 12-month highs; +25% from 12 month lows.

Latest News

23 Sep:  Canaccord Genuity reiterates its sell rating on Provident Financial (PFG) and reduced the target price to 378p (from 430p).

07 Aug:  Shore Capital reiterates its hold rating on Provident Financial (PFG) and increased the target price to 510p (from 500p).

30 Jul:  Peel Hunt has upgraded its rating on Provident Financial (PFG) to buy (from hold).

30 Jul:  Provident Financial announced that £23.6m was spent resisting a hostile takeover bid from Non-Standard Finance earlier in the year.

13 Jun:  Canaccord Genuity has upgraded its rating on Provident Financial (PFG) to hold (from sell).

06 Jun:  Patrick Snowball, Chairman, bought 96,477 shares in the firm on the 5th June 2019 at a price of 518.26p. This Director currently has 96,477 shares.

Source: Bloomberg, Reuters, Alpha Terminal, FT, DJ Newswires

 

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