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Home / Support and Resistance / Tesco PLC (TSCO.L) 30-10-19

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

Tesco PLC (TSCO.L) 30-10-19

Will shares in Tesco PLC (TSCO.L) break upwards or fall back to the 213p support yet again? (-10%)?

 

  • Now trading close to 239p resistance at 238p (at time of writing).
  • The resistance has been reliable recently. Will the resistance hold this time?
  • Will the share price rebound once again to recent support of 213p? (-10%).
  • Technical traders should be mindful of price-sensitive news and events. This might be of interest to the short seller.
  • Shares -5% from 12-month highs; +25% from 12 month lows.

Latest News

18 Oct:  UK shares  turned around early trading weakness at midday despite China releasing disappointing economic growth figures. The mood of investors appears to be homing in on hopes that Boris Johnson’s…

03 Oct:  Deutsche Bank reiterates its buy rating on Tesco (TSCO) and reduced the target price to 285p (from 295p).

02 Oct:  Tesco stated that CEO David Lewis would step aside next summer. The company also released a 3.7% increase in H1 profit.

23 Sep:  Deutsche Bank reiterates its buy rating on Tesco (TSCO) and increased the target price to 295p (from 285p).

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

 

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