Currys Plc (LSE: CURY) Share Price Analysis: Will the Downtrend Continue?

• Currys Plc is a British multinational electrical and telecommunications retailer and service company.
• The CURY stock is down by (0.81%) in today’s trading session.
• Let’s analyze the share price and how it may perform in the future.

The company was founded on 7th August 2014. The CURY stock is listed on the London Stock Exchange(LSE). However, by seeing the chart we can say that the stock is in a sideways position. This stock’s downfall began after 2015.  Moreover, the stock is near the price where it was listed on the stock exchange. The downtrend made a huge impact on the stock price.

Technical Analysis of the CURY Stock (Yearly)

The stock was performing really well from January 2002 till January 2015. It was creating new higher highs and higher lows. In other words, the presence of bulls was heavy over the bears in the market.  The stock value declined due to reduced customer spending. It is because of constant inflation and an increase in the rate of interest.

The pattern changed everything for this stock. The three black crows pattern appeared in an upward trend. It confirmed that the stock would fall and the price started to fall. The recovery might not be possible. The demand has gone down due to which the prices are falling in the market. The stock was down by (53.52%) overall. 

Technical Analysis of the CURY Stock (Monthly)

The chart clearly indicates that the stock is in the range between the support level and the resistance.  The stock near the current market broke the support level. The breakout was given in the downward direction. Traders can use it for small or sure returns. The stock could be bought at the support level and sold at the resistance level for sure returns.

Traders should invest in this stock only if the chance of recovery is possible!

The CURY share is unable to continue its up move as the pattern in the first rectangle is forming three down red candles. It shows the stock will move in a downward direction. In the second rectangle, the stock is unable to make a third green candle for an upward movement.  The stock was down by (4.32%) in the previous month. In the last 5 years, the stock was down by (69.86%).  Only in today’s trading session, the stock gave positive signs as compared to other time frames. Year to date the the CURY share was down by (14.27%).

Technical Analysis of the CURY Stock (Weekly)

 

In the daily time frame, the stock price is in a downtrend and that’s not good for any stock. It was down by (2.61%) in the past 5 trading sessions. The stock can be used for short selling by the traders.

Technical Analysis of the CURY Stock (Dailly)

The stock is in a sideways position. The chart shows different patterns for the stock in different time frames. It has performed well in today’s trading session. 

Summary

After assessing the technical analysis, we can say that the stock is in a sideways position. In the monthly time frame, it was in the range and that can help you earn sure short returns. However, the stock might not give a huge return, so the stock does not have the potential to generate good returns for investors. If the stock breaks its range in the weekly time frame, it can be a good pick for short-term investment. 

TechnicalLevels

• Resistance Level: £0.58
• Support Level: £0.48

Disclaimer

The analysis is done for providing information through technical analysis and no investment suggestions are given in the article to be made by investors.