Will Experian Share Price Be Able To Break Above Its 3-Year Resistance?

Summary:

Experian stock price analysis shows that the price is about to hit a multiyear resistance which may result in at least a short term pullback.

Experian share price is having a strong surge this week, fuelled by very bullish half-year results. As a result, the stock price of the data analytics and consumer credit reporting firm has risen to its highest level in the last 3 months.

This bullish price action has once again propelled the price close to its multiyear resistance level of £29.30. At press time, the stock was trading at £29.11 after extending its weekly gains by 1.01% on Wednesday. Overall, the stock is up 8.54% this week.

`The positive price action in the shares for Experian is also supported by the falling inflation in the UK. This is because the latest CPI data showed that the inflation remained at 4.6% against the market expectation of 4.8%.

While every analyst is looking at the short-term bull trend in LON: EXPN, I present to you a much bigger picture. The following chart shows that the price is about to hit its range highs of £29.3 soon. A breakout above this level may result in new all-time highs for the stock.