Shire PLC (NASDAQ: SHPG) is at a Critical Make-Or-Break Zone around 149 . If it continues to move above this zone, the Buyers may gain easy control over the sellers to shoot up the price to the upside as per TTC Breakout Formation . For Short-term targets, Trader should eye on 152.50 Zone . Then 156.60 is the next resistance. For Swing Traders, 162.60...
Lower tops formation amid bearish 100-DMA and 200-DMA crossover, coupled with the bearish RSI suggests the share prices is likely to test and breach support at 4535 (previous descending trend line, in which case the major support at 4300 could be put to test.
SHP looks like a buy between~£41.75-45.00. A close below the trend line would make me pretty nervous and I'd probably exit the trade. In the current environment I suspect that with indices at all time highs it would be a macro factor that would trip people out of the trade than a company specific factor.
SHP Shire Possible Gartley Sell A-B 0.786 retracement of the X-A leg B-C 0.618 retracement of the A-B leg C-D Anticipated 1.27 extension of the A-B leg, (and 1:1 measured up-trend move of A-B). Completing around 5426 Entry 5390 - watch and manage, may need to be adjusted to accommodate recent highs of 5330's Targets T1 5005 - 0.385 retracement of the...