Friday, May 19, 2017

WPP PLC – a sideways market

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

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