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Home / Support and Resistance / Phoenix Holdings (PHNX.L) 05-03-20

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

Phoenix Holdings (PHNX.L) 05-03-20

Will Phoenix Holdings (PHNX.L) fall beyond the 700p support level, or will we see a retest of 803p? (+15%)

 

  • The stock is near support at 700p, now trading at 695.1p (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 803p? (+15%).
  • 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 -13% from 12-month highs; +9% from 12 month lows.

Latest News

10 Feb:  Barclays Capital reiterates its equal weight rating on Phoenix Group Holdings (PHNX) and reduced the target price to 658p (from 662p).

 

06 Dec:  JP Morgan Cazenove reiterates its overweight rating on Phoenix Group Holdings (PHNX) and increased the target price to 904p (from 846p).

06 Dec: Phoenix, the insurance company,  announced it had reached an agreement to purchase ReAssure, the life insurance consolidator, from Swiss Re and MS&AD Insurance. The move will cost Phoenix £3.2bn.

04 Dec:  Barclays Capital reiterates its equal weight rating on Phoenix Group Holdings (PHNX) and increased the target price to 662p (from 657p).

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

 

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