Sell Rentokil (RTO) - Don't get caught in the bull trap.

Sell Rentokil ( RTO )

Rentokil Initial plc is a commercial pest control company. The Company is engaged in the provision of route-based services, which protect people and enhance lives. The Company's segments include Europe, UK & Rest of World, Asia, North America, Pacific, and Central and regional. The Company's business categories include Pest Control, Hygiene, Workwear and Other.

Market Cap: £7.32Billion

Rentokil has rallied into a 50% Fibonacci resistance level on the weekly chart at looks set to close out the week posting a doji candle. This indecision suggests that upside is looking limited from here and that further downside could be seen in the short to medium term. A move back to the lows cannot be ruled out.

Entry: (at market ~ 395p)
Stop: 430p
Target 1: 355p
Target 2: 315p
Target 3: 290p

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