TeleCity Group could start a technical downward trend after the rebound in recent sessions.

Graphically, the stock went through a period of rebound in recent sessions towards the GBp 939 medium-term resistance. The share should consolidate near this area. It could act as a stopping point of the upward movement. This scenario suggests a return to the GBp 878.5 support area which will be a bearish objective.

Therefore, the most offensive investor can benefit from the technical configuration to take a short position. The objective will be fixed near to the GBp 878.5 support. Only the breakdown of this level would open up new bearish targets toward GBp 775.5. The stop loss will be set above GBp 939.