Having fallen through both its daily and weekly Ichimoku clouds, Travel & Leisure could now find support from its monthly Ichimoku cloud.
IC TIP:
Sell
Further downside seems the most likely scenario. Below 4355, 3988 and 3726 come into view. Further out, 3331 looks attainable. In the short term, any rally is going to face stiff resistance from the daily cloud and 55-day exponential moving average.
IC Trades are written by Investors Chronicle writers. City Trades are written by selected external contributors. Both are based on the interpretation of patterns on a share price chart, rather than on fundamental analysis of the company's business or prospects.
