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Interserve gaps down; further bearish movement is expected

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Insterserve stock (LSE:IRV) has gapped downwards seriously and further downwards movement is expected. Strong volatility will follow the gap-down.

Before the gap-down, price was a kind of consolidating. In August, price moved below the lower Trendline, eventually gapping downwards in September. The RSI period 14 is now in the oversold region. There could be some bullish effort (which would be transitory, however).

Interserve should continue going downwards within the next several months, reaching the demand levels at 102.00 (which has been previously tested), 101.00 and 100.00.

 

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