wincanton

Wincanton (LON: WIN) share price just had a strong bounce after weeks of sideways price action. The stock of the British third-party logistics (3PL) company has been in a slump for the past two years. The latest analysis reveals that the ongoing bounce may turn into a significant relief rally. On Wednesday, the UK shares had a very bad day as the benchmark FTSE 100 index fell by 97 points. This led to a major sell-off in the weak equities. Wincanton shares opened lower today and closed the day with a 0.41% loss. Wincanton Profits Plunge 30% Wincanton plc released its latest earnings report a couple of days ago. The earnings report showed that the company's profits fell 30% from the previous year. In the last financial year, the company reported a pre-tax profit of £38.2 million. This was a massive decrease from the previous year's figure of £54.8 million. However, the company's revenue still increased from £1.42 billion to £1.46 billion. This translated into a 2.9% increase from 2022 to 2023. Wincanton share price reacted positively to the earnings report, as the shares are up 10% in the past three trading sessions. Wincanton Share Price May Hit 300p Soon Technical analysis of the LON: WIN chart reveals that the stock consolidated around the historical support level of 205p for weeks before having a bounce after the earnings release. If the bulls remain in control, then a possible target could be the 287p-300p region to fill the gap on the chart. Wincanton share price forecast will flip extremely bearish if it gains acceptance below 205p. A move till 287p region will also mean a retest of the 0.5 fib retracement zone. It will be very tough for the shares to gain strength above this level. I’ll keep sharing my updated price outlook on Wincanton & other stocks in my free Telegram group, which you’re welcome to join. LON: WIN Chart

Market	Status	Analysis
BTCUSD	Profitable	View
ETHUSD	Profitable	View
EURUSD	Profitable	View
NAS100	Profitable	View
USOIL	Profitable	View
XAUUSD	Profitable	View

Top Online Brokers Recommended Brokers May 2023
Visit site 68% of retail investor accounts lose money when trading CFD’s with this provider.
Visit site Your capital is at risk.
Visit site

Wincanton Share Price Surges Despite Profit Dip