SSE Share Price Extends Gains After Bullish Half Yearly Results

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Written By: Abdullah Sarwar

Nov 16, 2023, 17:36 GMT 17:36

Three large wind turbines at sunrise taken from the air

Summary:

SSE Share Price is aiming for fresh yearly highs after a reclaim of 1700p resistance level. Bulls may target 1900 in the coming months.

SSE (LON: SSE) share price is looking very bullish after posting strong H1 results. The stock of the energy firm opened higher on Thursday, but the daily candle turned red after some profit-taking. Nevertheless, the shares still managed to close the day 1.14% higher.

On a higher timeframe, SSE shares are up around 20% from their yearly lows and the latest analysis reveals that there could be more upside for the stock in the coming weeks.

The ongoing surge in the stock of SSE plc can be attributed to the recently released earnings results which disclosed a 37p EPS in the six months ending on 30 September. Consequently, the bulls are in the driving seat as the firm reaffirmed its guidance and the full-year adjusted earnings per share of 150p.

The following chart reveals a couple of key level on LON: SSE chart. The reclaim of the 1703p level has flipped the SSE share price forecast very bullish. As a result, there are now strong chances of the price targeting 1900p in the coming months.

SSE Share Price Chart – 1D Timeframe

This post was last modified on Nov 16, 2023, 17:36 GMT 17:36

Written By: Abdullah Sarwar

Abdullah Sarwar is a blockchain analyst and a cryptocurrency investor with more than 5 years of experience. He specializes in providing crypto price projections based on their fundamentals and price charts. He is also a successful day trader. He graduated in 2015 with a degree in electronic engineering. In his free time, he loves listening to electronic music and playing with trading bots.