> All the big AIM fraud exposés
> 300 articles and podcasts a month
> Hot share tips
> Original investigations by our experienced team
> No ads, no click-bait, no auto-play videos
By Zak Mir | Friday 5 June 2015
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Moneysupermarket.com (MONY): Support Towards 240p
Moneysupermarket has undoubtedly delivered false sunsets in terms of the extended rally which has dominated the daily chart over much of the past year. But at the very least, there are messages here on the daily timeframe which suggest that it may be best to avoid this situation if you are a long standing fan of the company, or take profits, even if one does not actually go short outright. This is because over the past month there has been sharp bearish divergence in the RSI window, with the latest wide gap through the 10, 20 and 50 day moving average suggesting that the longs have finally run out of steam here.
The view at the moment is that at least while there is no swift break back above the 50 day line at 283p, we could be set to suffer a further test for support. The favoured destination for this would be towards the 200 day moving average/1 year price channel floor at 238p. The time frame on such a move is seen as being the next 1 to 2 months, with the 240p area likely to be retested even if shares of Moneysupermarket manage to rehabilitate themselves after that.
Never miss a story.
This area of the ShareProphets.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ShareProphets.com. ShareProphets.com does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ShareProphets.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ShareProphets.com and is not intended to be relied upon by users in making (or refraining from making) any investment decisions.
Search ShareProphets |
Stock market news |
Recent Comments |
Site by Everywhen