Medium term view - PROVIDENT FINANCIAL PLC : Pull-back
The volatility is very high, but peaks and troughs are descending. The next target is at 357.10 p. The invalidation level is above 2,435.50 p.Arguments :
- Prices are pulling back to the resistance level (previously a support). The fall will resume afterwards.
Provident Financial operates in the non-standard credit market. Co. has three divisions, covering four areas of the non-standard market. The Vanquis Bank division is a supplier of credit cards in the non-standard credit market. The Consumer Credit Division includes Provident, which provides home credit loans; and Satsuma, which is an online instalment loan product. The Moneybarn division is involved in the provision of vehicle finance for people in the nonn-standard credit market.
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