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Royal Mail Daily Technical Analysis | 6 December 2017

2017-12-06 07:52 am | Resource: Technical Analysis Section | No Views : 273

Royal Mail broke the bullish trend line on the 240-minute time frame and the stock failed to break through 438.43 Euro during the end of November, which led the stock to fall to 421.08 levels.

Royal Mail Daily Technical Analysis | 6 December 2017

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
Trend: Up


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