Ocado Group Plc (LSE:OCDO) has seen a series of lower highs and lower lows, forming a clear downtrend. Recent attempts to rebound were consistently capped near the 250 level, where a strong resistance zone repeatedly halted upward momentum, reinforcing the ongoing bearish trajectory and signaling that sellers continue to dominate, limiting any meaningful recovery in the near term.
The stock’s business activity has been tracing a consistent pattern of lower highs and lower lows, highlighting sustained selling pressure over recent sessions. Attempts at short-term recoveries repeatedly stalled around the 250 mark, a key resistance level, preventing any meaningful upward movement. This confluence of downward trend-lines and resistance barriers underscores continued bearish sentiment, suggesting that further declines may persist unless buyers decisively overcome this critical threshold.
Resistance Levels: 250, 275, 300
Support Levels: 175, 150, 125
Can OCDO Break Past the 250 Resistance, or Will the Downtrend Persist While Stochastic Oscillators Remain in the Oversold Region?
Ocado Group Plc remains under pressure near the 250 resistance, with Stochastic Oscillators in the oversold region signaling potential short-term exhaustion. A decisive breakout above the 250 resistance is required to shift market momentum, whereas failure to overcome this level could reinforce selling pressure and extend the prevailing bearish trend in the near term.
The path formation of the candlesticks has been steadily downward below the exponential moving averages, as the 15-day EMA continues to remain underneath the 50-day EMA, reflecting sustained bearish pressure in the market. The Stochastic Oscillators are currently in the oversold region, suggesting potential short-term exhaustion while signaling cautious traders to watch for possible reversal opportunities.
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