B&M European Value Retail S.A. (BME.L): will shares break the resistance level, or fall back to the 348p support? (-9%)?

• Current price is 382.8p (at time of writing).
• The resistance line has been robust. Is this one for short sellers?
• The shares have tested this level on numerous occasions, but be mindful of stop-loss placement.
• Will the share price rebound downwards once again to support at 348p? (-9%).
• Technical traders should be mindful of news and developments. Check our website and the press for updates.
• Shares -4% from 12-month highs; +37% from 12 month lows.

Latest News

15 Nov:  JP Morgan Cazenove reiterates its overweight rating on B&M European Value Retail (BME) and increased the target price to 400p (from 390p).

14 Nov:  Goldman Sachs reiterates its buy rating on B&M European Value Retail (BME) and reduced the target price to 425p (from 440p).

13 Nov:  Jefferies International reiterates its buy rating on B&M European Value Retail (BME) and reduced the target price to 410p (from 420p).

12 Nov:  B&M European Value Retail, the retailer,  announced that half-yearly profit had declined significantly, mainly due to a writedown following operational issues at its German Jawoll business unit.

08 Nov:  Shore Capital today initiates coverage of B&M European Value Retail (BME) with a buy rating and target price of 429p.

24 Jul:  B&M said it had made a ‘solid start’ to the new year, as revenues grew by more than 20% in Q1.

27 Jun:  JP Morgan Cazenove has upgraded its rating on B&M European Value Retail (BME) up to overweight (from neutral).

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

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