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Royal Mail Daily Technical Analysis | 21 December 2017

2017-12-21 12:19 pm | Resource: Technical Analysis Section | No Views : 264

Royal Mail is still trading in a bullish direction on the interval of 240 minutes. The stock managed to break through 448 levels and as the stock approached 458 levels, it corrected the stock slightly to retest the breached resistance level.

Royal Mail Daily Technical Analysis | 21 December 2017

The SMA is positively intersecting with the slow moving average and forming an important support area for the European stock.
Momentum is a positive cross but suffers from a decline in momentum due to the formation of the stock for higher peaks while the stock is higher than the other, so there is a negative technical deviation under formation.
It is expected that the breach of Royal Mile at 458.36 may target 729.96 levels on the other hand, if the stock returns again to the highest areas of 734.31 may target retesting the broken bearish trend line.
Support: 448 - 438 - 421.08
Resistance: 458.36- 467.15- 449.80
Trend: Up


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