Cranswick: new all-time highs

The stock reached a record high after positive 1Q and outlook.

Uptrend 1

Cranswick, the food producer, posted 1Q sales that increased 24.8% The company said that the outlook for the current financial year ending 27 March 2021 is now expected to be ahead of its previous expectations.

From a chartist point of view, the bullish gap opened on August 17 allowed the stock to break above a congestion area in place since late March. Technical indicators are positively oriented. A new up leg would now be anticipated towards Fibonacci targets at 4220 and then 4705.

Source : TradingVIEW, Gain Capital

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