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Neighbour: You can still be sure of Shell
Trader Joe Neighbour, from Central Markets, is focusing on oil company, Royal Dutch Shell this Friday. He says with a general lack of volatility and most indices trading near all-time highs, he's searching for quality and this is a company that fits the bill.
Technically, he says the company's looking very strong and has seen a breakout from a persistent level of resistance recently. He says there's now an uptrend line, which gives investors the possibility of entering on the long side.
Joe expects the positive momentum to continue and is looking at an immediate target of 2600p and beyond that 2700p is "realistic", he says.
01:16 minutes
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