Onesavings – Pressing into key hurdle, overbought daily RSI

Onesavings has jumped more than 10% to 271p as the group, which offers residential mortgages and buy-to-let loans reported a 36% increase in the first half profits to GBP 64.6 million.

On the daily chart

Prices are attempting a break above critical resistance of 271.65 (May 11 low).

The odds of a failure to break higher/hold above 271.65 are high given the overbought daily RSI . The money flow index too is almost hovering into overbought territory.

Hence, profit taking could result in a dip to 260-250 levels before the share gathers steam for a more sustainable move above 271.65 levels.


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