Ferguson : new all time highs

Market chart showing uptrend
The distributor of plumbing and heating products is recording new historical highs after posting full year earnings and sales that beat estimates, and reinstated dividends. 

From a technical point of view, prices trade above a rising trend line drawn since last March and break above the 7700 resistance area. Technical indicators are positively oriented. As long as 7036 is not broken, a new up leg would be expected towards 8000 at first and 8500 in extension.

Source : TradingView, Gain Capital

Related tags: Equities

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