LSE:FOXT   FOXTONS GROUP PLC ORD 1P
9 0 0
fundamental:
price crashed from ~170 after brexit and an followed profit warning on Monday. It now recovered to 134 high and pulled back to 118 as of writing this analysis. FOXTON is one of the top real estate agents in the UK, it will be largely affected by the housing market. While the long term effect of the brexit on the housing market is yet known. I personally believe current price level is over-kill.

CHAN theory:
If the current trend of drop in price doesn't break the top of previous 30-min central region (114.25), we should expect a second wave of up-rising. Meaning we are close to a level-2 buy signal at the moment.
Otherwise, an fluctuation around previous region (100, 114.25) is likely to be observed.

MA55 is showing similar support level at 118, which isn't far from 114.25

A short term trading strategy can be long, and set the stop loss at 110. (instead of 114 due to high volatility and low liquidity)


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