WTB trade ideas
Whitbread - Premier level to get inn? (Sorry!)Buy Whitbread (WTB.L)
Whitbread PLC is a United Kingdom-based company, which owns and operates hotels and restaurants. The Company is organized into a single business segment, Premier Inn. Premier Inn provides services in relation to accommodation and food both in the United Kingdom and internationally.
Market Cap: £6.38Billion
Whitbread moved sharply higher on the result of the election before Christmas as the price gapped higher. The shares have corrected lower in recent days to close the gap at 4654p and fresh buyers emerged. The shares are now breaking higher from a flag/pennant pattern on the daily chart, which suggests a continuation higher will be seen in the short term. The formation has a measured move target at 5940p, which is roughly 24% above the current price.
Stop: 4550p
Target 1: 5100p
Target 2: 5940p
Target 3: 6680p
Whitbreads potentially bullish in the short termWhitbreads forming an ascending triangle, currently looking oversold, sitting near long term support level. Needs to break circa 3800, then look for 4400 as potential target (long term resistance). please do your own research, this doesn't constitute financial advice.
