Greggs (GRG.L) 13-03-20
Greggs (GRG.L): will it break the 1750p key support level, or bounce to highs of 2442p (+37%)?
- Currently trading around the 1750p support. The current price is 1778p (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 2442p? (+37%).
- Shares -28% from 12-month highs; +1% from 12 month lows.
Latest News
03 Mar: Greggs, the bakery, announced that profits for the year increased by almost one-third with demand driven by the introduction of new products, including vegan sausage rolls.
29 Jan: HSBC has downgraded its rating on Greggs (GRG) to reduce (from hold).
09 Jan: UBS reiterates its buy rating on Greggs (GRG) and increased the target price to 2640p (from 2300p).
Source: Bloomberg, Reuters, Alpha Terminal, FT, DJ Newswires