Short term view - IMPERIAL BRANDS PLC : The 50% retracement is causing the bounce.
The trend is still bullish, the invalidation level is below 2,552.00 p. The target is at 3,093.00 p.Arguments :
- The major support has been reached, it causes the bounce.
- The 50% retracement is causing the bounce.
- The moving average is supporting prices.
Imperial Brands is comprised of two distinct businesses: Tobacco and Logistics. The Tobacco business comprises the manufacture, marketing and sale of tobacco and tobacco-related products, including sales to (but not by) the Logistics business. The Logistics business comprises the distribution of tobacco products for tobacco product manufacturers, including Co., as well as a range of non-tobacco products and services.
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