Next Plc. - The company which will watch on London opening

NXT.UK - Daily

Our expectations - Long-term upward trend, with current corrective wave, providing good levels for positioning with long positions. SL: 50.80.

Alternative Scenario: If the price moves below the support area, the positive scenario will be spoiled, and we are more likely to see a deeper correction in Next Plc's share price.

Comment: Price in long-term upward trend and current corrective wave that reaches a key area of ​​support. Basic elevation diagonal, basic horizontal, internal diagonal, 200SMA, and 38.2% Fibonacci correction of the main trend are available. 50SMA and 200SMA remain beached - the trend remains in place. RSI (14) is near an over-sales zone, but it does not signal Long - short-term consolidation is possible before the new upward pulse. It is important to note that the price is testing the gap formed at the beginning of the year. Taking into account the historical behavior of the price, the gaffe level is likely to have a positive impact.

Still, there is a lack of clear Price Action that bulls take precedence, so we need to focus on opening the London Stock Exchange and keep track of price behavior short. After creating the appropriate Price Action formation, it's good to position Long.

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