Technical update: DS Smith.
Investors Chronicle - magazine and web content, June, 2007
The paper maker has traced out a possible reversal pattern, but there is still upside potential Dominic Picarda
DS Smith's explosive nine-month, 87 per cent rally fizzled out in May.
A head-and-shoulders reversal pattern would be completed were the shares to break below the red neckline. Downside of at least 40p would be likely. An Elliott Wave count suggests that the correction may be in its final stages, however, with further support below from the longer-term moving average. If the uptrend resumes as expected, the first target is around 261p.
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