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Home / Support and Resistance / Close Brothers (CBG.L) 25-02-20

This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.

Close Brothers (CBG.L) 25-02-20

Will Close Brothers (CBG.L) shares break below the 1388p support zone, or will it return to highs of 1663p (+19%)?

 

  • Currently trading around the 1388p support at 1395p (at time of writing).
  • The support has proven robust to date. Will the pattern repeat?
  • The price has tested this level repeatedly. Traders should be mindful of stop-loss placement.
  • Will the share price bounce once again to recent highs of 1663p? (+19%).
  • Technical traders should be mindful of news and developments. Check our website and the press for updates.
  • Shares -16% from 12-month highs; +13% from 12 month lows.

Latest News

28 Jan:  RBC Capital Markets reiterates its sector performer rating on Close Brothers Group (CBG) and reduced the target price to 1450p (from 1500p).

24 Jan:  Jefferies International reiterates its hold rating on Close Brothers Group (CBG) and reduced the target price to 1410p (from 1520p).

23 Jan:  JP Morgan Cazenove has downgraded its rating on Close Brothers Group (CBG) to neutral (from overweight) and reduced the target price to 1550p (from 1650p).

23 Jan:  Berenberg reiterates its hold rating on Close Brothers Group (CBG) and reduced the target price to 1410p (from 1460p).

22 Jan:  Close Brothers announced that loan growth was broadly flat within H1, due to a difficult UK economic environment.

17 Dec:  Citigroup has downgraded its rating on Close Brothers Group (CBG) to sell (from neutral) and increased the target price to 1470p (from 1360p).

17 Dec:  Investec has downgraded its rating on Close Brothers Group (CBG) to sell (from hold) and increased the target price to 1420p (from 1415p).

Source: Bloomberg, Reuters, Alpha Terminal, FT, DJ Newswires

 

Click to enlarge

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