The water company's share price was heavily penalized and is now in an oversold situation near to a solid support area.

United Utilities Group is in oversold situation, near GBp 656. This situation gives credit to a potential technical rebound. Thus, the stock could find new energy and would rise towards the next GBp 736 resistance.

So as to make the most of a potential technical rebound of United Utilities Group, it seems opportune to take a long position close to the 656 level. A confirmation of this pattern would enable the security to reach the GBp 736 resistance. Investors should not insist under GBp 656 and are better to place a stop loss order under this threshold.