Imperial Brands : trading update
Jean-Christophe Rolland October 8, 2020 8:28 AM
The tobacco products company unveiled reassuring outlook.
Imperial Tobacco reported its full year trading update, saying that "the tobacco business has continued to perform well despite an uncertain and disrupted trading environment." The company added : "Group net revenue performance is slightly ahead of the guidance provided at our half year results, and is expected to be broadly flat on last year at constant currencies."
From a chartist point of view, the stock opened with a bullish gap above the 1330 support area and the flat 50-day MA. Therefore, readers should consider a new up leg to test the 1145 resistance.
Source : TradingVIEW, Gain Capital
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