From a chartist point of view, the stock price struck against a key resistance at 356p and is reversing down. Prices escaped from an upward-sloping channel. The bearish gap opened this morning provides a first resistance at 320p. The daily Relative Strength Index (RSI, 14) is bearish and not oversold. Regarding the trading strategy, as long as the resistance zone 320p – 356p is not penetrated, the bias remains bearish with 244.8p as next bearish target. Alternatively, a break above 320p – 356p would call for a reversal up trend towards 397.8p.
Source: GAIN capital, TradingView