SKY PLC – Selling likely to continue, eyes 865-841

LSE:SKY   None
Bearish points

  • Money flow indicator reversed from 80.00 levels, rising trend line breached
  • Daily MACD tilting in favor of bears
  • Major averages still sloping downwards

Hence, prices appear on track to breach 50-DMA support of 885 and test key support levels of 865 and 841 levels in the days ahead.

Bearish invalidation is seen only if prices see a day end close above falling trend line resistance.