This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Trade Parameters
Technical Observations – For
Technical Observations – Against
Attractive bearish technical set-up in terms of reversal potential. Metals prices under pressure amid China sell-off and uncertainty about US growth and new car regulations on emissions and electric vehicles. Stronger GBP may reduce FX benefit amid USD weakness. Risk of results disappointing next week.
Consensus is bullish, but as the saying goes, “if everyone’s bought, who’s left to buy?”. Potential for reversal to gather pace and attract revaluations and downgrades by analysts, especially as the consensus target would require a breakout to fresh 12-month highs.
Next Event: H1 results, 21 Nov
Latest Broker 12-Month Consensus: 50% Buy, 33% Hold, 17% Sell (full breakdown on request)
Source: DowJones Newswires, Reuters News, Bloomberg or Company Press releases
| Share | 1wk | 1m | 3m | 6m | 1yr | 2yr | 3yr | 4yr | 5yr |
| Perf % | -4.0 | -4.6 | 20.8 | 5.9 | 1.5 | 30.2 | -0.6 | 4.7 | 37.9 |
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