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Royal Mail Daily Technical Analysis | 17 November 2017

2017-11-17 11:18 am | Resource: Technical Analysis Section | No Views : 303

Royal Mail breached the downtrend line during last week as buyers pressured the English stock as the stock broke through 384.40 level, confirming that the breakout is not a lie.

Royal Mail Daily Technical Analysis | 17 November 2017

The British stock is trading in a bullish direction over the 4-hour interval, and the SMA and the SMA are currently positively cross which supports the upside move.
From MACD the negative cross has been converted into the positive cross-section and the histogram columns rise above zero.
It is expected that in case of a breach of the English stock level of 402.49 euros may target levels of 424.00 on the other side, if breaking the level of 394.39 may target 370.09.
Support: 394.39 - 370.09 - 360.50
Resistance: 402.49 - 411.60 - 426.38
Trend: Up

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