TipTVFinance

Burberry –Approaching bullish break, but lacks volume support

LSE:BRBY   BURBERRY GROUP PLC ORD 0.05P
Burberry shares are up almost 3% and are the top performer in the FTSE100 index.

A day end close above 1377 (Aug 24 high) would mark a bullish break and open doors for 1468 (Mar 3 high).

However, check the volume… the three-day winning streak (including today’s gains) is accompanied by falling volumes. Hence, bulls should observe caution as there could be a shake off following a bullish break. Note, there is a bullish 50-DMA and 200-DMA crossover on the chart.

Overall, dip demand is likely and bullish invalidation is seen only below 1277 (Aug 4 low).

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out