Imperial Brands : trading update

The tobacco products company unveiled reassuring outlook.

Uptrend 3

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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