Tinashe
Short

SPORTS DIRECT INTERNATIONAL PLC - A DIRECT SHORT IN MY OPINION

CHXEUR:SPDL   SPORTS DIRECT INTERNATIONAL PLC
35 0 1
After much analysis, SPORTS DIRECT INTERNATIONAL PLC             has identified itself as a good SHORTING opportunity.

The technical concepts which I have utilised are largely based on TRENDLINE ANALYSIS. In addition, technical indicators such as the RELATIVE STRENGTH INDEX ( RSI ) and BOLLINGER BAND PERCENTAGES ( %B ) have also been used.

So, what technical factors should you consider?
1. Time interval of chart - 3H
2. OVERHEAD RESISTANCE at 417.96 - This is a very important level. Notice how price has tested this level approximately 5 times without advancing above it.
3. UNDERLYING SUPPORT at 384.34 - A PULLBACK was experienced but prices re-entered the TRADING RANGE bounded by the RED and BLUE DASHED LINES.
4. The RSI has reached the level of OVERBOUGHT
5. The BOLLINGER BAND %B indicates that prices has moved close to 2 STANDARD DEVIATIONS from the 20 HOUR MOVING AVERAGE ; yet another signal of OVERBOUGHT conditions.
The ONE YEAR HIGH for this STOCK is 820.60
The ONE YEAR LOW for this STOCK is 359.10

BUT
1. This stock is currently trading above its 50 HOUR EXPONENTIAL MOVING AVERAGE . This is BULLISH .

Price Targets
1. 396.20

TAKE PROFIT and STOP LOSSES are at your DISCRETION

The following description of SPORTS DIRECT INTERNATIONAL PLC             . is not my own:

Sports Direct International Plc             is a United Kingdom-based holding company. The Company is a sports retailer engaged in retailing of sports and leisure clothing, footwear and equipment; wholesale distribution and sale of sports and leisure clothing, footwear and equipment under Company-owned or licensed brands, and licensing of its brands. It operates through three business segments: Sports Retail, Premium Lifestyle and Brands. Its Sports Retail segment includes the United Kingdom and international retail network of sports stores along with related Websites. Its Premium Lifestyle segment includes premium retail businesses, such as Cruise and Flannels. Its Brands segment includes the portfolio of internationally recognized brands, such as Everlast, Lonsdale and Dunlop. The Company offers its products under the brands, including Slazenger, Karrimor, Nike             , Under Armour             , Reebok, Puma, Kangol, No Fear and Firetrap. Its subsidiaries include Direct Fishing Limited and Campri Limited.
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