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Lambert: UK retailer Kingfisher stumbles lower
Clive Lambert - FuturesTechs
15 May 2015 at 6:33 GMT
Video / 15 May 2015 at 6:33 GMT

Lambert: UK retailer Kingfisher stumbles lower

Clive Lambert - FuturesTechs
Clive Lambert from FuturesTechs is looking at the recent gap lower in Kingfisher PLC shares. The leading European home improvement retailer saw a significant reversal in prices over the last few days. The sharp reversal created an Evening Doji Star pattern. The combination of this pattern and the recent gap lower are clear sell signals for Clive. He is looking to sell the stock at current levels and around 352.00p. He is targeting a move lower toward 326.00p, 310.00p, and 285.00p. A stop can be placed above the recent gap at 357.70p.

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Clive Lambert - FuturesTechs Clive Lambert - FuturesTechs
We've seen some early gains to fill the gap but I'm still happy with the trade and would only close it out if we close above 358 today. If you're not in yet consider selling at current levels which would afford a stop above Marabuzo resistance at 364...


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