Gap down open
Company reported a rise in underlying profits but warned the revamp will hit profits in the short-run.
Daily Chart - Looked like it was forming a text book inverse head and shoulder formation..But with today’s gap down opening the hopes have dimmed. Gap filling may happen, however, on monthly chart shows rising trend line has been breached.
Monthly chart – Rising trend line resistance is seen at 432.32, while inverse head and shoulder neckline on daily is seen at 152.00 levels.
Company reported a rise in underlying profits but warned the revamp will hit profits in the short-run.
Daily Chart - Looked like it was forming a text book inverse head and shoulder formation..But with today’s gap down opening the hopes have dimmed. Gap filling may happen, however, on monthly chart shows rising trend line has been breached.
Monthly chart – Rising trend line resistance is seen at 432.32, while inverse head and shoulder neckline on daily is seen at 152.00 levels.
