Shire has retained is support during the latest market correction with only a ‘normal’ price correction move. It is now making a new low that is above a current support level at 1207p and so looks to be set to benefit from the next improvement in market sentiment and to rise to test the all-time-high price resistance at the 1314p level.
As a ‘buy’ -
Pros:
In Uptrend, making new higher highs and lows
Continuing to benefit from buying support
Above 1207p support/resistance level and the upward price trend line
Cons:
Any increase in market jitters could send the price down to look for support at the 1207p level
Weekly Chart -
Daily Chart -
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