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Most companies in the FTSE 250 index are in the red. The most notable laggards are companies like Royal Mail, Tullow Oil, Aston Martin Lagonda, IWG, TUI, Carnival, and Johnson Matthey. All these shares have slipped by more than 3%. According to Hargreaves Lansdown, the most active FTSE 250 stocks are iTV, Centamin, and Quilter.
FTSE 250 forecast
The daily chart shows that the FTSE 250 index has been in a strong bearish trend. It is trading at £18,680, which is the lowest it has been since March this year. It has managed to move below the important support at £19,279, which was the lowest level on May 10th. It has also dropped below the 25-day and 50-day moving averages. The Relative Strength Index (RSI) has been falling as well.
Therefore, the path of the least resistance for the index is lower. The next key support level to watch will be at £18,400. A move above the resistance point at £18,946 will invalidate the bearish view.
