UK based water company Severn Trent, which supplies around 4.6 million households and businesses across the Midlands and Wales, saw stock price return to last week's closing area after starting the week lower and dropping over 2.60% before rebounding. The company’s shares started Tuesday day with an upward move which saw price rise 1,60% and reach a high of 28,29 before pulling back as general sentiment on the FTSE100 remains quite negative following PMI data.
Severn Trent stock price broke through recent highs on Friday to reach the highest level since November 2022 before dropping sharply at the start of this week with a gap lower and testing the 50 SMA (yellow line) on the H4 chart. While general sentiment continues to be mixed, it remains to be seen if it will be able to extend the upward move and test recent highs again or if it will extend the pullback. Source: xStation5
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