A price actioin above 2300 supports a bullish trend direction.
Crossing below this level will negate the bullish trend.
Further trend support above 2400.
Crossing above 2500 might target 2600.
Remains a risky trade.
I recommended Severn Trent not too long back, however that turned out to be too early. With it now properly bottomed out, go long to capture gains from an imminent reversal.
Hold till channel resistance/an overbought RSI .
Place stop loss at 2013
Risk/Reward ratio: 8!
On July 8, I posted an idea suggesting that I could see a possible trend change on LSE:SVT. The closing S.P. on the last trading day (Jul 6) was 2208.0
Since then the S.P. has risen with the last closing S.P. (Jul 13) at 2233.0. The bearish engulfing candlestick (Jul 10) did make me think that maybe I'd been suckered and that the trend change could end early....
LSE:SVT has been in a longterm down trend since 9 Jun 2017 taking it from 2534 to a low of 2150. The last 4 trading days looks to show a trend reversal.
1> Downtrend starts 9 Jul 2017, trending with 20 Jul and 27 Jul open prices.
3> The "above trend" bullish doji i'm discounting as a possible early misread of opportunistic investors thinking the SP was ready to...
![SVT: LSE:SVT possible trend reversal(?) [Part 2]](https://s3.tradingview.com/m/mY6rx6X0_mid.png "LSE:SVT possible trend reversal(?) [Part 2]")
