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Royal Mail (IDS) share price pattern points to a plunge to 173p

The Royal Mail (IDS) share price pattern has been indicating a potential plunge to 173p. This is a significant drop from its current price of 220p. The pattern is a bearish head and shoulders formation, which is a reliable indicator of a trend reversal.

The head and shoulders pattern is formed when the price reaches a peak (the head) and then falls back, forming two smaller peaks (the shoulders) on either side. The neckline is drawn by connecting the lows of the two shoulders. When the price breaks below the neckline, it is a signal that the trend is reversing and the price is likely to continue falling.

In the case of Royal Mail (IDS), the neckline is at around 173p. If the price breaks below this level, it could trigger a sell-off and push the price down further. The pattern suggests that the bears are in control and that the bulls are losing momentum.

Investors should be cautious and keep an eye on the price action. If the price breaks below the neckline, it could be a good opportunity to short the stock. However, if the price manages to hold above the neckline, it could indicate that the bears are losing steam and that the bulls are regaining control.

In conclusion, the Royal Mail (IDS) share price pattern is indicating a potential plunge to 173p. Investors should be cautious and keep an eye on the price action to determine their next move.

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