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Royal Mail Daily Technical Analysis | 26 October 2017

2017-10-26 09:32 am | Resource: Technical Analysis Section | No Views : 317

Royal Mail broke the bullish trend line on the 4 hour interval during last Friday's trading and during this week the stock failed to retest the test and broke the 388.10 level to confirm the downside movement

Royal Mail Daily Technical Analysis | 26 October 2017

The SMA and the Slow Moving Average have crossed negatively, making buyers worse and supporting sellers more.
From the MACD we pointed out earlier that it indicates a decline in buyers' resolve. Currently, the index is cross-crossed and the histogram columns extend further below the zero level.
It is expected that, as long as the British stock trading below 385.86 Euro may target levels of 370.08 on the other side, if the breach of 384.66 level may target 394.39.
Support: 370.09 - 360.50 - 355.39
Resistance: 384.66 - 394.39-402.49
Trend: Down

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