JN_Wealth_Management
Long

Ocado - Looking ripe for buying.

LSE:OCDO   OCADO GROUP PLC ORD 2P
Technical
Ocado has had a dramatic rise in price over the past 18 months. The breakout level at 1163p has been retested and has so far been well supported. The shares have been in a consolidation phase for the past few weeks, but some signs are emerging that could put an end to the sideways price action. A move back to and above the previous highs is expected from here.

  • Fundamentals
    The company continues to make strides into technology, which offers potential medium-term growth.
    Numis reiterated thier 'Buy' rating on the 10th May 2019 with a price target of 1700p
    Ocado has announced a string of deals and recently tied up a joint venture with Marks and Spencer.

Stop 1105p
Target 1500p
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