Medium term view - WPP LN : The moving average is capping prices.
The trend has been momentarily interrupted by a correction. Prices just hit the resistance, it is probably resuming. The next target is at 991.00 p. The invalidation level is above 1,416.00 p.Arguments :
- Prices have pulled back to the major resistance level (previously a support). The fall is now resuming.
- The MACD displays a bullish divergence.
- The moving average is capping prices.
WPP is a holding company. Through its subsidiaries, Co. is a communications services organization providing national and multinational clients a range of communications services. Co. is organized into four operating segments: Advertising and Media Investment Management; Data Investment Management; Public Relations and Public Affairs; and Branding and Identity, Healthcare and Specialist Communications. This last reportable segment includes WPP Digital and direct, digital, promotional & relationship marketing.
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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