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Despite cautious outlook, Zak Mir tips Thomas Cook to soar towards £1

Despite the cautious outlook from Thomas Cook Group PLC (LON:TCG) in yesterday’s first quarter results, Zak Mir reckons shares in the travel operator could still head towards the £1 zone in the coming weeks.

“The summer was really the low point for the stock breaking back above the 50-day moving average in August and it’s been guided by that line ever since,” Mir explains in the latest Proactive Investors Bulletin Board segment.

“[The stock is] in a rising trend channel from June with the top of the channel heading towards 100p and that’s the target on a technical basis while we hold above the floor of the channel towards the 80p level.”

 
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