Hill & Smith PLC : The resistance as main obstacle
Entry price | Target | Stop-loss | Potential |
---|
GBX 734 |
GBX 0 |
GBX 753 |
+100% |
---|
After a technical rebound, the stock is showing signs of weaknesses near to the GBp 734 resistance.
Indeed, it tried to breakout the GBp 734 resistance without success and should now go back toward its daily moving averages. In fact, the resistance currently tested have never been brokeout this year after 3 tests.
The graphical configuration argues to establish a short trade at current prices. The end of the technical rebound and overbought situation : Hill & Smith Holdings has all the characteristics for short selling. The first goal will be fixed near the GBp 687.5 short term support. This strategy should be protected by a stop loss above GBp 734.
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