Investamate
Long

Buy Weir Group (WEIR) - About to engineer some profits?

LSE:WEIR   WEIR GROUP PLC ORD 12.5P
Buy Weir Group (WEIR)

The Weir Group PLC is a United Kingdom-based company, which is engaged in engineering businesses. The Company's business operates through three segments: Minerals, ESCO, and Oil & Gas. The Minerals segment is engaged in the provision of slurry handling equipment and associated aftermarket support for abrasive high wear applications used in the mining and oil sands markets.

Market Cap: £2.21Billion

Weir Group has rallied today having made a higher low in recent sessions. The shares appear well bid and could continue this strength in the short term. There are some unfilled gaps to target on the upside. The shares could also benefit from any recovery in the oil price in the short term.

Entry: 820-880p
Stop: 768p
Target 1: 945p
Target 2: 1070p
Target 3: 1234p

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Comments

Great Analysis, but I am of the opinion that buy entry should actually be where your stop loss is located. We may likely see the stock ranging for few days before it finally move up.
Reply
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