FSTA Heavy Rejection at 760p Signals Exhaustion
Fuller, Smith & Turner P.L.C. Class A LSE_DLY:FSTA
Looks like a little price weakness here with this pub operator. Over the last couple of weeks the price has looked exhausted as it approached the previous high around 760p, with a series of upper rejection wicks suggesting sellers were still sat overhead. Then on Friday the stock sold off hard, closing at the low of the day on strong volume, which validates the move down. If this becomes rangebound I could see it drift back to the lows of 620p.