Wait the right signal to buy
William Hill (L:WMH) became the latest company to post a plunge in revenue as sports betting volumes collapsed and it was forced to close its retail network of betting shops. But shares jumped 10.1% amid the broader rally.
Weekly chart pattern – Flag and pole
The chart currently shows a bearish break from flag formation, although confirmation depends on whether today’ day end close is below 311 levels.
If it does, the doors would open for a fresh sell-off to Brexit day low of 235.60.
Stock news – As per Reuters report, Casino and bingo hall operator Rank Group Plc and online...
William Hill is back in news after the company rejected a fresh bid from Rank and 888.
The shares are down 3.45% as I write. On the daily chart, today’s candle engulfs gains of last four trading sessions. Last week also marked failure to sustain above daily 200-MA level.
Consequently, prices could be heading lower to daily 100-MA level of 305.18 over the next...