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Royal Mail Daily Technical Analysis | 1 November 2017

2017-11-01 08:29 am | Resource: Technical Analysis Section | No Views : 315

Royal Mail is trading in a bearish direction following the break of the English trend line during yesterday's trading and the general trend is currently bearish. The SMA and the Slow Moving Average are both negative crosses.

Royal Mail Daily Technical Analysis | 1 November 2017

Currently, the British share is trading at the highly important 370 Euro level, which in case of a break, the position of the shareholders will be very negative.
The MACD is a negative cross and the histogram columns are decreasing below the zero indicating a growing weakness of the bulls in the stock and their lack of tricks in front of the bear.
It is expected that if the British stock breaks the level of 370.06 Euro might target 360.50 levels on the other side, if a breach of 380.31 might target 390.24.
Support: 370.06 - 360.50 - 355.39
Resistance: 384.66 - 394.39-402.49
Trend: Down

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