Yesterday’s selloff has done nothing for those shares already beaten down by recent bad news, and this has meant that our oversold list has not seen much change. Defence firm Qinetiq is on the list too, the shares having slumped in recent days. They are now touching 195p, the lowest level in over six months, and sit on key support from mid-November 2013.
Although not much changed today, United Utilities has touched highs not seen since 1999 this week. 876p remains the major upside resistance, but it seems in these times of heightened volatility the appeal of a secure utility company with a strong dividend should not be underestimated.