A range trading opportunity for you?
Will Weir Group fall lower, or will it rise to 1601p recent highs again?
- Weir Group broke down from 3 month 1418p – 1601p range 5 days ago. Longer term 1299p – 1811p range intact
- Shares bounced off 1299p; Now trading 1349p (at time of writing).
- Will shares get back to June highs of 1601p (+18.7%)?
- Shares -34% from 2019 highs; +3.5% from 2019 lows; -43%% year-to-date
- Weir Group manufactures oil & gas equipment and has been struggling from falling oil prices.
- Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal