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Trade idea: Why I'm buying Aviva
The British insurance giant, Aviva, is the focus of Joe Neighbour's trade from Central Markets this Friday. The company announced it was shedding 6 per cent of its staff this week and Joe says there's real potential for the stock to go higher. The latest job cuts are part of a wider restructuring of the company by a new Chief Executive who started at the beginning of the year.
Aviva shares have risen by around twenty per cent this year and Joe says his technical analysis indicates the shares are bouncing once more from the uptrend line. He expects the stock to march back towards the highs of GBP 4.55. He's going to try to enter the market at around GBP 4.32 with a stop loss at GBP4. 25
00:49 minutes
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