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

More from Equities

From time to time, GAIN Capital Australia Pty Ltd (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.

As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.