Morrison (MRW LN)

LSE:MRW   None
Price is in a firm up trend despite retracing recently and in recent Kantar surveys showed the Co.'s market share decline 3.2% but stand at a respectable 10.4% with Tesco still in the lead at 28.2%. However, recent news for the Co. has been positive with the tie up with Amazon and their last set of earnings showing an increase in revenues.

R3 230.14
R2 Intraday downtrend line
R1 223.56
Current 221.41
S1 216.98
S2 214.87

In terms of Value Areas we have extended above the mean area on the daily chart and would need another distribution if results are outstanding. If results are worse than expected we could see prices trade back into mean value at around 200.00

Kind regards

Rajan Dhall MSTA