Next PLC has tasted the impact created from inflation and interest rates, however the stock continues fighting to develop stability.

From a technical overview, towards the downside the first level of support sits at £5.65. This is also where the bottom Bollinger band is located. A slip below this level could see the share test the next major support at £5.57 (green trendline). As consumer spending has decreased due to the rise of inflation, the upcoming months will be vital for this support level to hold. In relation to the upside, the level of resistance sits at £6.21 which is where the SMA of the Bollinger band meets (white line). A break above this SMA level could test the next level of resistance at £6.42. RSI reads 40 (negative) and MACD neutral, suggesting the possibility of a further downtrend remains. However, this is very dependent on the outcome of economy in the short/mid-term.