United Utilities shares supported by a rising trend line

Blue avatar for FOREX.com guest contributors
By :  
November 25, 2020 4:13 AM
3 views
Graphic of trading data chart
Blue avatar for FOREX.com guest contributors
By :  
United Utilities, a water company, announced that 1H underlying profit after tax dropped 16.0% on year to 174 million pounds and underlying operating profit slid 18.5% to 319 million pounds on revenue of 894 million pounds, down 4.4%. The company proposed an interim dividend of 14.41p per share, up from 14.20p per share in the prior-year period.

From a chartist point of view, the stock price is supported by a rising trend line in place since February 2018. A potential inverted Head & Shoulders pattern is taking shape. However, the 50WMA started to flatten out. Readers may consider the potential for opening Long positions above key support at 830p with 950p and 981p as targets. Alternatively, a break below the long term rising trend line would call for a reversal down trend towards 752p and 685p. 

Chart of United Utilities Shares Supported Produced By A Rising Trend Line. Published in November 2020 by FOREX.com

Source: GAIN Capital, TradingView

 
Related tags: Equities UK

Latest market news

Nasdaq, Bitcoin, Gold among beneficiaries of falling rates expectations
Today 04:13 PM
Block stock chopped as Hindenburg goes short: Where next for SQ stock?
Today 01:47 PM
Precious moments: Gold rallied towards $2,000 on rate rise, markets favor its safe haven status
Today 01:13 PM
US Open: Stocks rise post Fed, US jobless claims fall
Today 01:07 PM
BoE lifts interest rates to highest since 2008
Today 12:35 PM
Reddit stocks: what meme stocks are trending?
Today 12:10 PM

Open an account in minutes

Experience award-winning platforms with fast and secure execution.

Open account

Web Trader platform

Our sophisticated web-based platform is packed with features.
Learn more

Economic Calendar

view more

Latest Equities articles

Finger pointing on market chart data
Block stock chopped as Hindenburg goes short: Where next for SQ stock?
By:
Joshua Warner
Today 01:47 PM
    Close-up of stock market board
    Reddit stocks: what meme stocks are trending?
    By:
    Joshua Warner
    Today 12:10 PM
      Canary Wharf London cityscape at night with HSBC building
      A guide to the banking crisis: What happened and what comes next?
      By:
      Joshua Warner
      Today 09:26 AM
        Graphic of trading data chart
        Big Tech layoffs: Are there more job cuts to come?
        By:
        Joshua Warner
        Yesterday 09:38 AM

          StoneX Europe Ltd may make third party material available on this website which may contain information included but not limited to the conditions of financial markets. The material is for information purposes only and does not contain, and should not be construed as containing, investment advice and/or investment recommendation and/or an investment research and/or an offer of or solicitation for any transactions in financial instruments; any decision to enter into a specific transaction shall be made by the client following an assessment by him/her of their situation.

          StoneX Europe Ltd makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. We are not under any obligation to update any such material. Any opinion made may be personal to the author and may not reflect the opinion of StoneX Europe Ltd.