Schroders plc : A downturn could form
By Arnaud Le Berre
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 2,488 | GBX 2,383 | GBX 2,648 | +4.22% |
Graphically, the share is in a period of technical rebound that allowed it to reach the GBp 2560 mid-term resistance. This area could trigger a sell signal for investors in case of profit-taking. Furthermore, the rallying of the GBp 2383 pivot point area will be considered for upcoming sessions.
The upside seems limited as shown by technical configuration. In contact with the GBp 2560 resistance, a movement of consolidation could return the stock towards the GBp 2383 pivot point. As a result, the most aggressive investors could take a short position near GBp 2560 but they need to set a stop loss above this resistance because the crossing of this level would invalidate our scenario