Weir Group could start a technical downturn after the rebound of recent sessions.
Graphically, the share is in a period of technical rebound that allowed it to reach the GBp 2074 mid-term resistance. This area could trigger a sell signal for investors in case of profit-taking.
The upside seems limited as shown by technical configuration. In contact with the GBp 2074 resistance, a movement of consolidation could return the stock towards the GBp 1810 mid-term support. As a result, the most aggressive investors could open a short position in the current area but they need to set a stop loss above the GBp 2074 resistance because the crossing of this level would invalidate our scenario.
The Weir Group PLC is one of the world's leading suppliers of products and services for the mining, infrastructure and construction industries. Net sales break down by activity as follows:
- mining and mineral processing equipment (72%): crushing and grinding equipment, pumps, valves, handling equipment, etc. marketed under the Warman® Centrifugal Slurry Pumps, GEHO® Positive Displacement Pumps, Enduron® High Pressure Grinding Rolls, Cavex® Hydrocyclones and Linatex® Resistant Rubber brands;
- ground engaging tools and equipments (28%): ESCO and Bucyrus Blades brands.
Net sales break down by source of revenue between sales of aftermarket parts (73.9%), sales of original equipment (18.4%), sales of services (5.7%) and other (2%).
Net sales are distributed geographically as follows: the United Kingdom (1.4%), Europe (7.3%), South America (21.9%), the United States (16.9%), Canada (15.3%), Australasia (13.6%), Middle East and Africa (11.9%) and Asia/Pacific (11.7%).
THE WEIR GROUP PLC 
