Ferguson : new all time highs

Shares jump following full year earnings report release.

Uptrend 2

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

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