The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication.
The stock has regained some of its losses but it has struggled to break through and stay above the level 7000. There is a possibility we could retest the recent low of 6700 if the earnings per share is below the range of $1.57-$1.61. Since the forecast has been lowered twice, it will be difficult for the stock to reach the 7200 region that has proved to be an important metric over the past 18-months.