Medium term view - SAINSBURY (J) PLC : The resistance has been passed.
The resistance has been passed, the trend becomes positive as we now have a succession of ascending peaks and troughs.The next target is at 350.50 p. The invalidation level is below 221.30 p.Arguments :
- The major support has been reached, it causes the bounce.
- The resistance has been passed.
- The bullish gap opened as prices break out of the pattern announces a rally.
J Sainsbury is principally engaged in food, general merchandise and clothing retailing and financial services. Co. is organized into four operating segments: Retail (Food), which provides a range of food, including organic produce; Retail (General Merchandise and Clothing), which provides a range of products across home, clothing, technology and leisure; Financial Services (Sainsbury's Bank plc and Argos Financial Services entities), which provides products such as credit cards, insurance, travel money and personal loans; and Property Investment (The British Land Company PLC and Land Securities Group PLC joint ventures). At Mar 11 2017, Co. had 605 supermarkets and 806 convenience stores.
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