RDW - Redrow

[darth trader]

Another one that's come to my attention...

Redrow is currently breaking through resistance to make an all time high. It seems to be making an ascending triangle pattern suggesting that an upside breakout is the most likely outcome.

There have been a number of interesting news items recently concerning results, director holdings and institutional transactions to boot.

Any views?
DYOR.

 

[ChartMan]

Again, in oversold territory and sitting right on resistance. There seems to be some way to go TA wise and a brake and close above 250 would signify a breakout....

 

[esiotrot]

Today the Murphy plug in for Metastock gave the ascending triangle.

Minimum target 264 in 14 bars, maximum 283

I agree that it appears to have broken the resistance at the all time high. The question is whether it then continues to trend.

 

[darth trader]

a quick update on this - following a fakeout to the upside RDW has gone into a downtrend.