Robert Walters Plc
Long

RWA three-month sideways range tightly coils at the volume floor

40
Starting with the recruiters, Robert Walters is one I successfully shorted a while back, in hindsight I should have held the position open longer, but that’s trading for you, don’t aim for perfect, you don’t need to.

A couple of really interesting points worth noting here. First, the price action has clearly been trading sideways for the best part of three months now, and it’s only in the last couple of weeks that things have really tightened up. There was a big transaction on Friday too, and comparing the volume profiles on the right-hand side of the chart, there’s a significant weighting of volume sitting at the current price level. Looks interesting.

Price target: 105p

Potential return: 24%

Aviso legal

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