Royal Mail Daily Technical Analysis | 6 December 2017
2017-12-06 07:52 am | Resource: Technical Analysis Section | No Views : 273
Currently, the stock is testing the broken bullish trend line and is trading in a bearish direction. The simple moving average and the slow moving average move closer to each other indicating that a negative cross may occur in the coming hours.
The MACD has become a negative cross which supports the break of the rising trend line.
It is expected that, if the share of the English mail level level 411.60 euros may target levels of 426.38 on the other side, if breaking the level of 421.08 may target 411.60 euros.
Support: 421.08 - 411.60 - 402.49
Resistance: 438.43 - 448.06 - 458.36
Investors were digesting on Thursday the accompanying signals from the US Federal Reserve, which yesterday cut interest rates, and the subsequent hint from the Bank of Japan that it could boost stimulus next month after a policy review. European stock indexes have only slightly changed ahead of scheduled speeches by Benoit Coeur and Sabine Lottenschleeger from the European Central Bank and last month's UK retail sector statistical report. Central banks…
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