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Home / Support and Resistance / Inchcape (INCH.L) 10-03-20

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

Inchcape (INCH.L) 10-03-20

Will Inchcape (INCH.L) fall beyond the 569p support level, or will we see a retest of 718p? (+25%)

 

  • The stock is near support at 569p, now trading at 570.5p (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 718p? (+25%).
  • 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 -20% from 12-month highs; +4% from 12 month lows.

Latest News

04 Mar:  Jefferies International reiterates its buy rating on Inchcape (INCH) and reduced the target price to 790p (from 845p).

28 Feb:  Barclays Capital reiterates its overweight rating on Inchcape (INCH) and reduced the target price to 845p (from 855p).

28 Feb:  JP Morgan Cazenove reiterates its neutral rating on Inchcape (INCH) and reduced the target price to 550p (from 590p).

16 Jan:  Inchcape, the automotive distributor, announced that it had would acquire Daimler’s Mercedes-Benz car and van distribution business in Colombia.

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

 

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