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Home / Support and Resistance / Electrocomponents (ECM.L) 10-03-20

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

Electrocomponents (ECM.L) 10-03-20

Electrocomponents (ECM.L): will it break the 558p key support level, or bounce to highs of 725p (+29%)?

 

  • Currently trading around the 558p support. The current price is 559.2p (at time of writing).
  • Support levels like these are often used by traders to assist with decision making.
  • Strong support levels often suggest that there may be ‘hot money’ looking to buy at the key level. Of course, valuations can change.
  • Will the share price rally again to recent highs of 725p? (+29%).
  • Shares -23% from 12-month highs; +3% from 12 month lows.

Latest News

19 Feb:  Peel Hunt reiterates its hold rating on Electrocomponents (ECM) and increased the target price to 700p (from 650p).

11 Feb:  Berenberg reiterates its buy rating on Electrocomponents (ECM) and increased the target price to 800p (from 715p).

05 Feb:  JP Morgan Cazenove reiterates its overweight rating on Electrocomponents (ECM) and increased the target price to 811p (from 774p).

04 Feb:  Electrocomponents, the industrial and electrical product company, said it witnessed slower growth within the first four months, blaming an uncertain economic environment.

16 Jan:  JP Morgan Cazenove has upgraded its rating on Electrocomponents (ECM) up to overweight (from neutral) and increased the target price to 774p (from 651p).

08 Jan:  UBS reiterates its buy rating on Electrocomponents (ECM) and increased the target price to 775p (from 725p).

29 Nov:  UBS reiterates its buy rating on Electrocomponents (ECM) and increased the target price to 725p (from 705p).

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

 

Click to enlarge

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