Schroders breaks neckline - BullishH&S pattern over last 6 months Neckline broken today Bullish but DYOR!Longby andmk2Updated 4
Schroders (SDR)Since hitting 2000.00 the share price has retraced 41% and since have consolidated around the 2800 area. The average estimates from brokers are still at a hold - buy rating. The RSI is showing a bullish failure swing with the indicator making lows and the price making a higher low. On the weekly chart price action has been bearish with a shooting star candle (last week). However, the daily chart contradicts this with a hammer candle rejection of the 2754 lows. R3 2876.80 R2 2850.00 R1 2800.00 Current 2722.00 S1 Upward trendline starting from June 6 low. S2 2722.00 S3 2651.00 S4 2620.13by RajDhallPublished 0