UK: BAE Systems shares begin with positive action – Analysis – 17-7-2019

BAE Systems shares price started its recent trades positively, taking advantage of its stability above the moving average 55, to notice rallying towards 515.50, expecting to form initial support at 500.00 to resume the bullish attack and target 38.2% Fibonacci correction level initially at 529.00, and surpassing it might extend trades towards 559.00.

Stochastic continuous fluctuation within the overbought areas reinforces our bullish overview by providing strong positive momentum to ease the mission of reaching the suggested positive targets.

The expected trading range for today is between 505.00 and 529.00

The expected trend for today: Bullish