Tesco share price is up for the 2nd day in a row, as investors applauded the sale of the Poland divisions of the company. Tesco has initiated an 18-month winding down period after the sale of its business operations in Poland with the sale of the business to Salling Group A/S, in a deal worth £181 million.
The sale was first announced in June 2020, as Tesco looked to streamline its operations globally in a bid to remain competitive as the coronavirus pandemic stung harder. The company had earlier sold its business operations in Thailand and Malaysia in 2020.
Tesco share price is on the verge of a breakout above 224.0, as the 2nd successive candle is well on its way to a second penetration close above 224.0. Monday’s candle closing price of 224.2, thus achieving the 1st penetration close. This will put the Tesco share price on the pathway towards 228.0. additional resistance is seen at 231.4 (25 February), with 234.3 also coming into the picture as a potential upside barrier.
On the other hand, bears will benefit immensely from a price drop below 220.2, targeting 217.5 and 214.0 respectively.
