In the past few sessions, William Hill shares have suffered from a sharp fall and is now coming back on significant support level.

The security follows a downward trend in the short term, under the GBp 406.9 resistance area. The trend is bearish also in the mid-term. However, the selling pressure could run out of steam soon. Indeed, whereas the stock shows an oversold condition, the GBp 388.6 support area currently tested might stop the bearish trend in the short term, moreover the bullish trend line will give another argument.The breakout of the short term resistance at GBp 407 will give a buying signal.

Thanks to the technical pattern and William Hill’s strong fundamentals, active investors can take a long position above GBp 388.6. The downside potential is limited and the timing seems perfect to benefit from a technical rebound. The main goal will be fixed at GBp 431.2. However, a bearish trend would regain the upper hand if the security crosses GBp 388.6.