From a chartist’s point of view, the stock price has entered into a consolidation move and is capped by the key resistance threshold at 8811p. The 50-DMA started to flatten out indicating a lack of momentum in the short term. The Daily Relative Strength Index (RSI, 14) is capped by a declining trend line. Readers may want to consider opening Short positions below the key resistance level at 8811 with 8048p and 7685p as targets (congestion zone). Alternatively, a push above 8811p would open a path to see 9400p.
Source: GAIN Capital, TradingView