Short term view - KINGFISHER PLC : The support has been breached.
The trend is still bearish, the invalidation level is above 366.00 p. The target is at 281.70 p.Arguments :
- The support has been breached.
- The major resistance has been reached, it causes the fall.
- Prices are breaking below the moving average, it is a sign of weakness.
- The bearish gap opened as prices break out of the pattern announces a fall.
Kingfisher supplies home improvement products and services through a network of retail stores and other channels, located mainly in the U.K. and continental Europe. As of Jan 31 2017, Co. had nearly 1,200 stores in 10 countries across Europe.
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