The Weir Group PLC : A technical correction is coming
By Etienne Veber
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 993 | GBX 0 | GBX 1,045 | +100% |
After a substantial upturn, the stock now approaches the GBp 1018 resistance and a downward trendline, fact that could create a downward movement.
In addition, the 20-week moving average is currently pressing the stock and confirm this downward anticipation.
Due to the technical configuration, investors can open a short trade close to the GBp 1020 resistance. The price target is set at GBp 880.5 and a stop loss will be placed at GBp 1045.