Annual Forecast for Royal Bank of Scotland Group – 2020

PUBLISHED: Jan 29 2020 @ 00:24 | Comments (0) | More info about Azeez Mustapha

Royal Bank of Scotland Group shares (LSE:RBS) are in a bearish trend, which started in December 2019. In that month, price gapped upwards massively and later nosedived as buying pressures disappeared from strong distribution territories.

Price has been trending downwards since then, resulting in a “sell” signal as it goes below the EMA 21. The William’s % Range period 20 is in the oversold region, which shows a great weakness in the market.

While there would be upward bounces and rallies effort, they will all be temporary as those bounces will be traps to catch bulls and slash them. The overall bias on RBS is bearish and further bearish movements are expected this year.

Thus price could reach the accumulation territories at 210.00, 200.00 and 190.00.

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