Tesco PLC (TSCO.L) 19-03-20 - Accendo Markets

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Tesco PLC (TSCO.L) 19-03-20

Tesco PLC (TSCO.L): will it break the 225p key support level, or bounce to highs of 258p (+11%)?

Currently trading around the 225p support. The current price is 231.3p (at time of writing).
Support levels like these are often used by traders to assist with decision making.
Strong support levels often suggest that there may be ‘hot money’ looking to buy at the key level. Of course, valuations can change.
Will the share price rally again to recent highs of 258p? (+11%).
Shares -10% from 12-month highs; +9% from 12 month lows.

Latest News

18 Mar: Tesco, the supermarket group, announced that it was seeking more details on the government’s move to provide retailers with a break in business rates for the next year.

09 Mar: Tesco announced it had reached a deal to sell its operations in Thailand and Malaysia to Bangkok-based CP for $10.6bn (£8.2bn), inclusive of debt.

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

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