Bearish divergence if followed by a downside break from the rising channel would signal the rally from 1039 (June 13 low) has topped out at 1879. The stock could then proceed to test demand around 1543 (April low).
Could be a double top appearing (second top slightly smaller than previous) BRBY seams to respond to DBs & DTs so may be a major short Also quite a steep rise...so doesn't look too sustainable. Thoughts..?!
MACD, though below zero, shows the momentum has stalled. A day end close below the rising trend line would open doors for a further sell-off to 1277 (August lows). It is advisable to be on a 'wait and watch' mode. On the higher side, only a daily close above 1450 would signal a possible revisit to recent highs around 1550.
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...
Burberry's sharp rise this week suggests a bottom is in place around 1080 and once prices break above falling trend line hurdle seen today at 1320, the doors would be opened for a test of double bottom neckline resistance at 1468. On the other hand, a failure to break above weekly 50-MA level of 1261 followed by a retreat below this week's low of 1160 could...
RECOMMENDATION BUY TARGET 1850 The Major trend of BURBERRY GROUP PLC it is showing strength for buying. If it breaks the resistance level then one can initiate the buying position in the stock. If it breaks the level of 1786 then it can show upside movement for the target of 1850 with the stop loss of 1725. CHART FORMATION:- Stock is trading in a range and ...