TeleCity Group Plc : Bearish scenario preferred
March 01, 2013 at 04:13 am EST
By
Entry price | Target | Stop-loss | Potential |
---|
GBX 935 |
GBX 0 |
GBX 996.25 |
+100% |
---|
TeleCity Group could start a technical downward trend after the rebound in recent sessions.
Graphically, the stock went through a period of rebound in recent sessions towards the GBp 939 medium-term resistance. The share should consolidate near this area. It could act as a stopping point of the upward movement. This scenario suggests a return to the GBp 878.5 support area which will be a bearish objective.
Therefore, the most offensive investor can benefit from the technical configuration to take a short position. The objective will be fixed near to the GBp 878.5 support. Only the breakdown of this level would open up new bearish targets toward GBp 775.5. The stop loss will be set above GBp 939.
The content herein constitutes a general investment recommendation, prepared in accordance with provisions aimed at preventing market abuse by Surperformance, the publisher of MarketScreener.com. More specifically, this recommendation is based on factual elements and expresses a sincere, complete, and balanced opinion. It relies on internal or external data, considered reliable as of the date of their release. Nevertheless, this information, and the resulting recommendation, may contain inaccuracies, errors, or omissions, for which Surperformance cannot be held responsible. This recommendation, which in no way constitutes investment advice, may not be suitable for all investor profiles. The reader acknowledges and accepts that any investment in a financial instrument involves risks, for which they assume full responsibility, without recourse against Surperformance. Surperformance commits to disclosing any conflict of interest that may affect the objectivity of its recommendations.