Short term view - 3I GROUP PLC : Prices are evolving within a rectangle.
The trend is still neutral, but the consolidation shape reminds of a bearish reversal. Breaking below the support at 854.30 p would validate the existence of a bearish trend with an invalidation above 920.80 p. The market looks like it is going through a distribution phase.Arguments :
- The major support has been reached.
- The moving average is capping prices.
- Prices are evolving within a rectangle.
3i Group is an investment company with two complementary businesses: Private Equity, which invests in companies with an Enterprise Value of Euro100.0million to Euro500.0 at acquisition in its primary investment markets of northern Europe and North America; as well as Infrastructure, which invests in economic infrastructure and greenfield projects in developed economies, principally in Europe. Co.'s private equity business is focused on three sectors: consumer, industrial and business and technology services. Co. invests primarily in northern Europe and North America.
DayByDay is an independent research company providing global macro and single stock analysis, recommendation and allocation based purely on behavioural finance methods. Those include long term cycle analysis, sentiment analysis, and technical trigger. DayByDay serves all clients in need of practical and precise publications to make effective market decisions, on any time horizon, from a few hours to a few years.
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