TipTVFinance

Burberry – double bottom once falling trend line is breached

LSE:BRBY   BURBERRY GROUP PLC ORD 0.05P
  • Burberry's sharp rise this week suggests a bottom is in place around 1080 and once prices break above falling trend line hurdle seen today at 1320             , the doors would be opened for a test of double bottom neckline resistance at 1468.
  • On the other hand, a failure to break above weekly 50-MA level of 1261 followed by a retreat below this week's low of 1160 could yield a re-test of latest cyclical low of 1040.
  • The likelihood of the share breaking above falling trend line hurdle is high, given the bullish weekly 5-MA and 10-MA crossover accompanied by a sharp rise in volumes this week.
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
中国
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out