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easyJet (first-half earnings 15 May)
It has been a tough couple of years for easyJet, but it is beginning to look like the firm has turned a corner. Recent updates have been better, with improvements in both profits and dividends forecasted. Demand for cheap airline tickets remains robust, as does its expansion into new routes and hubs. Although Alitalia might be a big mouthful to swallow, it would give easyJet yet more routes as it continues its life-or-death struggle with rival Ryanair. At around 15 times forward earnings the shares are not too demandingly valued, with further room for growth. The firm is expected to report a 59% rise in earnings, although it is still expected to report a loss per share of 13p, while revenue is expected to rise 15.5% to £2.1 billion.
The shares have broken out from the £17.00 high that has held so far this year. The next resistance levels are £17.70, £18.46 and £19.28. Dips in the price should continue to find buyers, with £15.66 as near-term support and the 200-day simple moving average (SMA), currently £14.43, after this.