TCAP trade ideas
TP ICAP (TCAP.L) Potential Breakout, Eyeing $374 TargetThe stock is currently hovering around $198 and analysts are closely monitoring its potential to break through resistance levels.
Positive Revenue News Fuels Optimism:
This recent interest comes on the heels of the company's positive earnings report for fiscal year 2023. TP ICAP reported revenue of GBP 2.19 billion, indicating continued growth within the company.
Breakout Potential:
Technical analysts suggest that TCAP.L is nearing a breakout from its current resistance level of around $198. A successful breakout could lead to a significant increase in the stock price.
not be considered financial advice.
TP ICAP Ranging 145 - 200Idea for Tracking,
Increasing profit clearing debt and paying out dividends.
Using fibonacci retracement on TCAPBeginning with the downtrend from 23 July 2020, we have final support at 29 Oct 2020. Using the Fibonacci retracement, we can CLEARLY see the retracement levels being tested as support and resistance.
Furthermore, a breakout has already occurred from 15 Feb 2021, suggesting bullish momentum, where retracement levels are being tested again.
I'm not entirely sure what the final target level would be, but looking at the fundamentals of the company also, this could most certainly reach 1.618 Fib level.
Looking at what the company does, it definitely does seem like an opportunity and as such, I have gone long.
Thank you for reading this, please leave me any comments including suggestions/tips for improvement, or anything I may have missed out.
