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Royal Mail Daily Technical Analysis | 7 Novmber 2017

2017-11-07 09:10 am | Resource: Technical Analysis Section | No Views : 298

Royal Mail is trading in a downtrend on the 60-minute time frame. Currently, our neutral view of the European stock is trading between 382.40 and 377.70 as a result of the weakness of the Bear and the Bull.

Royal Mail Daily Technical Analysis | 7 Novmber 2017

The simple moving average and the slow moving average are negative crosses but without confirmation so far, the stock did not break the 377.70 level.
The MACD is currently breaching negatively, and the histagram columns are trading below zero. However, we do not recommend trading until the stock emerges from the narrow range mentioned above.
It is expected that, in the event of a break of European shares, the level of 377.70 euros may target levels of 370.08 on the other side, if the breach of 382.40 may target 390.24.
Support: 370.09 - 360.50 - 355.39
Resistance: 385.48 - 384.66 - 394.39
Trend: neutral

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