Short term view - RSA INSURANCE GROUP : Pull-back over
The trend is still bullish, the invalidation level is below 633.95 p. The target is at 709.80 p.Arguments :
- Prices have pulled back to the major support level (previously a resistance). The rise is now resuming.
- Prices made a new high, this confirms the strength of the trend.
- The rising moving average confirms our opinion.
RSA Insurance Group is an international general insurer focused on selected regional markets. Through its subsidiaries and associates, Co. provides personal and commercial insurance products to its global customer base, principally in the U.K., Ireland, Middle East, Scandinavia and Canada. The principal activity of Co. is to hold investments in its subsidiaries and the receipt and payment of dividends.
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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