Centrica Plc engages in the provision of energy supply and services. The company was founded on March 16, 1995 and is headquartered in Windsor, the United Kingdom.
I quite like the looks of this setup more as a mid term play. The company itself is looking quite undervalued (to me) at the current prices. It also appears to be going through some restructuring to simplify things, which includes a deal to sell off its North American business.
Additionally we are moving into colder weather and a lot more people are working from home. Which will certainly help offset income revenues lost from commercial premises, which are likely to occur.
On technicals the monthly is oversold and weekly is not far off it either. It also seams a little range bound at present. Which may present an opportunity of a rise back towards the upper limits, giving 15-20% potential.
There is still downside risk as always. But the upside reward gives a potential 2:1 Risk/Reward play.
Good Luck.
I quite like the looks of this setup more as a mid term play. The company itself is looking quite undervalued (to me) at the current prices. It also appears to be going through some restructuring to simplify things, which includes a deal to sell off its North American business.
Additionally we are moving into colder weather and a lot more people are working from home. Which will certainly help offset income revenues lost from commercial premises, which are likely to occur.
On technicals the monthly is oversold and weekly is not far off it either. It also seams a little range bound at present. Which may present an opportunity of a rise back towards the upper limits, giving 15-20% potential.
There is still downside risk as always. But the upside reward gives a potential 2:1 Risk/Reward play.
Good Luck.
Trade closed: target reached:
Well this rose a little quicker than I expected.
Initial target reached, which is of course good. But the strong fast rise now makes it look a toppy on the daily.
Therefore position now closed, 18% profit taken.
Time is required to cool the daily off. Which will then maybe present an opportunity to re-enter.
This still has legs mid term. But for now, one I am prepared to be out of but still watching closely.
Initial target reached, which is of course good. But the strong fast rise now makes it look a toppy on the daily.
Therefore position now closed, 18% profit taken.
Time is required to cool the daily off. Which will then maybe present an opportunity to re-enter.
This still has legs mid term. But for now, one I am prepared to be out of but still watching closely.