Ferguson - Turning up the heatBuy Ferguson (FERG.L)
Ferguson PLC is a distributor of plumbing and heating products. The Company operates through seven business units: Blended Branches, Waterworks standalone, HVAC standalone, Industrial standalone, Fire and Fabrication, Facilities Supply standalone and B2C e-commerce.
Market Cap: £15.35Billion
Ferguson is trading in a bullish long term channel. The shares are trading just below all time high and there is no sign of the momentum slowing. The small corrective move lower in recent days has attracted buying interest and a move to new highs is expected.
Stop: 6545p
Target 1: 7200p
Target 2: 7600p
Target 3: 8000p
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Supportservices
Rentokil - Time to catch some gains?Buy Rentokil Initial (RTO.L)
Rentokil Initial plc provides fully integrated facilities management and essential support services to government and commercial sector organization all sizes across all business sectors. The Company provides services in pest control, hygiene, workwear, facilities and plants.
Market Cap: £8.17Billion
Rentokil is trading in an exceptional long-term uptrend. The shares have once again bounced from the trend support line and this typically proceeds a move to new highs. If the trend is to continue, then its an ideal entry level. A break below 430p would invalidate the idea.
Stop: 430p
Target 1: 500p
Target 2: 530p
Target 3: 550p
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Babcock - Potential bottom forming.Buy Babcock (BAB.L)
Babcock International Group PLC is a holding company. The Company provides engineering services. Its segments include Marine and Technology, Defence and Security, Support Services and International. The Marine and Technology segment delivers support to the United Kingdom Royal Navy's submarines, naval ships and infrastructure. It also offers solutions in engineering, equipment management, consultancy, information and knowledge management. The Defence and Security segment offers engineering and training support services.
Market Cap: £2.68Billion
Babcock appears to be in the process of forming a bottom pattern on the daily chart. A break above 576p is needed to confirm the bottom pattern. Buying now is a pre-emptive move but it offers fantastic risk/reward at the current levels. The company is likely to benefit substantially on a Brexit deal.
Stop: 490p
Target 1: 576p
Target 2: 740p
Target 2: 800p
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Sell Aggreko PLC (AGK)Aggreko has broken to new lows on a relative basis against the FTSE 100. The shares are under performing the benchmark index and the support services sector over the past 3 months. Further weakness is expected. Sell with a stop above Friday's high.