WPP PLC stock (LSE:WPP) is
a sideways market. Price has been moving sideways since April 2017, oscillating
between the upper Trendline and lower Trendline.
A breakout is imminent in
the market, which may take price out of either of the Trendlines. A movement
above the upper Trendline would signal a bearish bias while a movement below
the lower Trendline would signal a bullish bias.
However, a closer look
at the market reveals that a movement to the upside is more probable, when the
market goes out of balance. This assumption is also confirmed by the RSI period
14, which is now slightly above the level 50. This means that WPP would go up
when there is a breakout.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Traders’ Mindset: Traders' Mindset
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