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Hold fire on William Hill, says analyst

Published: 10:30 14 Nov 2016 GMT

If you’re thinking of buying into bookmaker William Hill PLC (LON:WMH), the advice from technical analyst Zak Mir is to hold on for a little bit longer.

The gambling firm told investors on Monday morning that it expects to hit the upper end of its full-year operating profit forecast.

Mir expects this to help shares in the long run, but says cautious investors should wait for some momentum before putting their money in.

“We’ve got a pullback from the peaks of the merger speculation over the summer. So the shares went up to 360p, back down to 280p,” he tells Proactive.

“I’m thinking they’ll probably find support towards this zone because of the reassurance on the fundamental front.”

“[In terms of] momentum, if you’re cautious I’d probably wait for the shares to break that 50-day moving average at 299p.” 

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