Micro Focus International (MCRO.L) 04-11-19
Will the Micro Focus International (MCRO.L) share price break beneath the 1020p support zone, or will we see a return to highs of 2160p (+110%)?
- Currently trading close to the key 1020p support at 1026.2p (at time of writing).
- The support has proven reliable until now. Will the price rebound again?
- As always, traders should be mindful of stop-loss placement.
- Will the shares bounce again to recent highs at 2160p? (+110%).
- Shares -52% from 12-month highs; +2% from 12 month lows.
21 Oct: Micro Focus International, the software company, was subject of a statement by the firm Open Text confirming that it was not looking to acquire of the company.
10 Oct: Barclays Capital reiterates its equal weight rating on Micro Focus International (MCRO) and reduced the target price to 1130p (from 2000p).
03 Sep: UBS reiterates its buy rating on Micro Focus International (MCRO) and reduced the target price to 1530p (from 2050p).
Source: Bloomberg, Reuters, Alpha Terminal, FT, DJ Newswires