UK: Dixons shares reach the first target – Analysis – 13-12-2018

Dixons shares price trades extended strongly to the downside recently, recording the initial target at 122.75 that forms an intraday obstacle against the main bearish attack, the intraday positive rebound caused by stochastic attempt to surpass the oversold level, to delay the negative trading on the intraday basis until gaining new negative momentum in the near period.

Bu the stability of the price within the main bearish channel and the continuation of forming an extra resistance at 156.00 level makes us keep our bearish suggestion, note that the price success to break the mentioned barrier will open the way towards targeting new negative levels that begin at 110.50 and 95.20.

Expected trading range for today is between 146.00 and 122.75

Expected trend for today: Bearish