SMWH trade ideas
WH Smiths - Travelling towards 2600p?Buy WH Smiths (SMWH.L)
WH Smith PLC is a United Kingdom-based retailer in convenience, books and news for travelling customers. The Company is a high street stationer, bookseller and newsagent. The Company operates through two segments: High Street and Travel. The Company's Travel business sells its products to cater for people on the move or in need of a convenience offer.
Market Cap: £895Million
WH Smith's share price appears to have completed a triple bottom on the move above resistance at 2164p. In recent days the shares have corrected lower to find support at the neckline of the pattern. The projected upside target is at 2436p and beyond that 2604p. The momentum continues to be positive following upbeat results posted on the 17th of October. Higher prices are expected.
Stop: 2130p
Target 1: 2324p
Target 2: 2436p
Target 3: 2600p
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