TeleCity Group Plc : Bearish technical signals
Entry price | Target | Stop-loss | Potential |
---|
GBX 788.5 |
GBX 0 |
GBX 819 |
+100% |
---|
The technical configuration of TeleCity Group security suggests a correction in the short term.
Graphically, the security could run out of steam close to the GBp 806 resistance. Indeed, the stock is moving in an upward trend in the short term but it could know a halt. In this context, the downward movement could improve and it should expect a return to the GBp 734 support. Indicators that show an overbought situation confirm this scenario.
This strategy is only based on the technical configuration of the security. Therefore, the proximity of mid-term resistance suggests a consolidation or a correction phase in the coming sessions. The most offensive will open a short position on the current prices to target a return on the GBp 734 support. However, the position should be protected with a stop loss above GBp 806, in case of its breakout.
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