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Royal Dutch Shell (RDSb)
Royal Dutch Shell (RDSb)
Will shares pull back towards the neckline at 1848p or move on up towards the highs of 2600p?
- Potential bullish inverse head & shoulders reversal in play with target at the 2600p 2015 high (note Barclays’ price target below)
- Stochastics & RSI are overbought
- Momentum has turned back from 5-year highs
Broker Consensus: 59% Buy, 32% Hold, 9% Sell
Bullish: Barclays, Overweight, Target 2600p, +22% (5 July)
Average Target: 2045p, -4% (7 Jul)
Bearish: Canaccord Genuity, Hold, Target 1550p, -27% (20 May)
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Prepared by Michael van Dulken, Head of Research
