LSEG looking leggy - SELL

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LONDON STOCK EXCHANGE GROUP ORD GBP0.06918604 (LSE:LSEG)

LSE:LSEG LONDON STOCK EXCHANGE GROUP ORD GBP0.06918604

trendanalysis fundamental lse uk100 stocks

REASONS TO BE BEARISH

Recently lost the 100 week SMA and just re-tested it for resistance
Fell out of the exponential green top zone in March 2021
As far as the RSI is concerned, broke into the bear zone (below 40) and confirmed it for resistance failing to reclaim 60s
Target of 2,700p would coincide with the 0.618 fib retrace of the entire move from March 2009
This would take us back to Jan 2017 levels
Only saviour for the bulls would be to reclaim the 100 week SMA, given we are still in the upper-half of the exponential channel
That said, with only air below, I don't see the mid-point of the channel (at 6,400p) holding in the months ahead...
Not a terrible risk/reward entry for a short from these highs....

Aviso legal

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