Short term view - 3I GROUP PLC : The moving average is supporting prices.
The trend has been momentarily interrupted by a correction. It approaches the support at 932.50 p, which also is the invalidation level. It should cause a bounce and resume the bullish trend. The next target is at 1,063.00 p. The invalidation level is below 932.50 p.Arguments :
- The resistance has been reached, it causes the fall.
- Prices made a new all-time-high, this confirms the strength of the trend.
- The moving average is supporting prices.
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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