Quilter price has formed a rising wedge (bearish) while seeking a daily cycle high in an already failed cycle. Overhead resistance is made strong by the 200 day moving average that is declining. We know this share is positively correlated to the British Pound, therefore a stronger dollar will pressure price downwards as well as a week in which we see the share go ex-dividend.
Price closing above the blue trendline would be reason to dismiss the short option.
Price closing above the blue trendline would be reason to dismiss the short option.
Comment:
Quilter price is negotiating the triple resistance, 200DMA, blue trendline & resistance of the rising wedge. Odds favour failed attempt and resumption of downtrend.
Trade closed: stop reached