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Royal Mail Daily Technical Analysis | 24 November 2017

2017-11-24 11:46 am | Resource: Technical Analysis Section | No Views : 287

Royal Mail is trading in a bullish direction on the 240-minute time frame and the stock has breached the 402 level which led to the conversion of this area to a support level for the English stock. It also breached 405.5 Euro during yesterday's trading.

Royal Mail Daily Technical Analysis | 24 November 2017

The SMA is positively intersecting with the slow moving average, which has been positive so far, supporting the shareholders.
The MACD is still positive and is still pointing to the strength of the bulls but also shows that there is a weakness sign beginning to appear on the bulls making the breach of 411.60 level not easy.
It is expected that in case of a break of the English stock level 411.60 euros may target levels of 426.38 on the other side, in case the break level of 407.30 may target 494.39 euros.
Support: 402.49 - 394.39 - 370.09
Resistance: 411.60 - 426.38 - 448.06
Trend: Up

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