Richard Perry from Central Markets is selling RSA Insurance because of a series of bearish developments; he has seen a breach of the 120p key historical pivot level, as well as a break below all moving averages. As a result, Richard's strategy is to go short into any bounce towards 119.5p/120p. He says a stop can be placed at* *122.5p, above the 30 day moving average, and as a target he expects a retreat back towards the bottom trading band 113p/116.5p.RSA Insurance Group is engaged in personal and commercial general insurance business. The company announced in August that pre-tax profit before for the first-half of 2013 increased to GBP 250 million from GBP 219 million compared with the same period last year. *Disclaimer*_Saxo Bank Group provides an execution-only service. All information provided on Tradingfloor.com is solely for general information. Tradingfloor.com does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. Saxo Bank Group will not be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available as part of the Tradingfloor.com or as a result of the use of the Tradingfloor.com.__Please read our notification on__Non-independent investment research disclaimer (http://www.tradingfloor.com/about/niird) __Full disclaimer (http://www.tradingfloor.com/about/disclaimer) _

• published: 05 Sep 2013
• views: 1