FirstGroup chart shows an internal trend line

FirstGroup, a transport group, announced the sales of three properties in the U.S. for total gross proceeds of 137 million dollars.

Stocks (1)

FirstGroup, a transport group, announced the sales of three properties in the U.S. for total gross proceeds of 137 million dollars, "as part of its programme to rationalise Greyhound's property portfolio".

From a chartist’s point of view, the stock price is trying to push above a massive resistance threshold at 75p. Prices are supported by the rising 20/50DMAs. The internal trend line in place since July 2020 still provides support. The daily RSI (14) failed to make new highs (warning signal) but is holding above 50%. A breakout confirmation of the resistance zone (75p) would call for a new up leg towards 81p and 90p. Prices need to stand above 62.6p to maintain the bullish bias.  

Source: GAIN Capital, TradingView


More from Equities

From time to time, GAIN Capital Australia Pty Ltd (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. 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. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.

As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.