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Home / Support and Resistance / DCC (DCC.L) 18-10-19

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

DCC (DCC.L) 18-10-19

Will shares in DCC (DCC.L) break upwards or fall back to the 6326p support yet again? (-10%)?

 

  • Now trading close to 7090p resistance at 7028p (at time of writing).
  • The resistance has been reliable recently. Will the resistance hold this time?
  • Will the share price rebound once again to recent support of 6326p? (-10%).
  • Technical traders should be mindful of price-sensitive news and events.
  • Shares -2% from 12-month highs; +26% from 12 month lows.

Latest News

04 Oct:  Berenberg reiterates its buy rating on DCC (DCC) and increased the target price to 8450p (from 8350p).

19 Jul:  RBC Capital Markets reiterates its outperform rating on DCC (DCC) and reduced the target price to 9000p (from 9500p).

12 Jul:  DCC stated that it had traded in-line with expectations and had seen ‘good growth’ in operating profit for Q1, partly due to acquisitions made in the year before.

07 Jun:  Goldman Sachs reiterates its neutral rating on DCC (DCC) and reduced the target price to 7800p (from 7900p).

14 May:  DCC, the support services group, reported higher full year profits as recent acquisitions helped drive ‘very strong’ growth in its natural gas business unit.

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

 

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