Persimmon – Attempting a bullish break

Daily chart patternRising channel

Housebuilder Persimmon has reported a 29% jump in first-half profits and said customer interest since the Brexit vote has been "robust". At the time of writing, shares were up 3.68% at 1860 levels. Daily high stands at 1884 levels.

A bullish break above 200-DMA level of 1901 would open doors for pre-Brexit level of 2125. The daily RSI and money flow index remain supportive of such a move.

On the lower side, only day end close below 50-DMA (seen today at 1657) would signal the corrective rally from the post Brexit lows has ended.


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