United Utilities shares supported by a rising trend line

United Utilities, a water company, announced that 1H underlying profit after tax dropped 16.0% on year to 174 million pounds.

Charts (6)

United Utilities, a water company, announced that 1H underlying profit after tax dropped 16.0% on year to 174 million pounds and underlying operating profit slid 18.5% to 319 million pounds on revenue of 894 million pounds, down 4.4%. The company proposed an interim dividend of 14.41p per share, up from 14.20p per share in the prior-year period.

From a chartist point of view, the stock price is supported by a rising trend line in place since February 2018. A potential inverted Head & Shoulders pattern is taking shape. However, the 50WMA started to flatten out. Readers may consider the potential for opening Long positions above key support at 830p with 950p and 981p as targets. Alternatively, a break below the long term rising trend line would call for a reversal down trend towards 752p and 685p. 

Source: GAIN Capital, TradingView


More from Equities

Disclaimer

This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.

GAIN Capital Singapore Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the GAIN Capital group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), GAIN Capital Singapore Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact GAIN Capital Singapore Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.

In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither GAIN Capital Singapore Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.

GAIN Capital Singapore Pte. Ltd. is not under any obligation to update this report.

Trading CFDs and FX on margin carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit cityindex.com.sg for the complete Risk Disclosure Statement.